FX:XAUUSD   Gold Spot / U.S. Dollar
Personally will not be shorting due to volatility of market but will wait for buy opportunity
Just an idea

Buy @ 1559-63

Target 1597

-Trend-line has held support on numerous occasions and also strong support at 1550 followed by 50 day moving average. ( wait for price to retest the trend-line)
- Monday / Tuesday usually have counter flow followed by end of month Profit taking and lack of Asian buying during Chinese bank holiday this is what will initially drive price down
- Gold has been trending up at a good pace followed by consolidation each time. This works brilliantly for the price action in the long run.

- Corona-virus fears
- Post Brexit uncertainty
- Iran US tensions(taking a backstage but still there)
- interests rates still very low and Central banks continue to ease
- Hedge funds and MM Net long positions still at all time highs for both Gold and Silver

Lots of reasons to Go up!


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out