#Gold held steady, trading sideways as concerns over the global economic outlook from the rising number of Covid-19 cases offset the trade optimism between US and China, with trade negotiations showing signs of progress. Looking ahead, we maintain a bullish outlook on Gold as the low interest rate environment and uncertain macroeconomic landscape could continue to buoy demand for the safe-haven asset.
MAFX:
#XAUUSD (Intraday Perspective: Upside pressure above 1921.86)
We are seeing a medium-probability bullish scenario and 2016.43 marks a potential upside target for longs. Stochastic is also facing upside pressure from our support level at 18.00 as well.
MAFX:
#XAUUSD (Intraday Perspective: Upside pressure above 1921.86)
We are seeing a medium-probability bullish scenario and 2016.43 marks a potential upside target for longs. Stochastic is also facing upside pressure from our support level at 18.00 as well.