FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Here is my analysis of Gold at the moment. When we look at the daily time frame we can see that gold is still in an uptrend and price is heading up. However when we look at the 4hr timeframe we can see that price is current in a very interesting area. Where price is at the moment there isn't enough confirmation to say where it is going. Price could respect the downtrend its in and go down to about the 1800 area and then head up. At the same time price could start heading to the upside now. If price can break the trend that it is in at the moment and break previous resistance then we can see that price will make a significant move to the upside. Gold has the potential to reach all time highs its just if it goes down first or not.

I hope this helps you guys.

Whatever you decide to do good luck!


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