Signal_Centre

Gold fails to kick on and slips towards support

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
Markets continue to gyrate between a risk-on/risk-off approach and with the added influence of its dollar denomination, XAUUSD is no exception.

Our long-term outlook remains positive with the weekly chart highlighting the presence of a bullish flag formation, with an expectation of a break higher. This may take a while to play out and can accept a move to well below the $1,300 support (even $1,280) without being impacted.

The recent rejection from resistance at $1,242 looks to be gathering pace and momentum should result in a test of the support above $1,300. This highlights a fair risk/reward opportunity for today.
Comment: Prices have reached target and we may see a reaction from here
FREE Telegram Group - https://t.me/SCFree
Premium Membership - https://bit.ly/2W7OAxp

Comments

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 Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out