With the trade tensions between the US and China growing we have seen the price of Gold range as the correlation between CNYUSD and GOLD still remains close. In the last 24 hours of trading we have seen a slight shift in sentiment across the markets including a 4% drop in the NASDAQ yet Gold remained fairly quiet. However now we are approaching the key level of...
Trend, support and resistance trade.
Currently in this trade long for
Target A 1.07989
Target B 1.09005
NOTE* Market is currently respecting the weekly trendline (blue) and past resistance levels (1.06880)
Happy trading and don't forget, trade at your own discretion not anyone else's.