Similar to the DXY, Gold has been trading with no clear directional bias with the price fluctuating along the 1965 price level
Anticipating further downside on the DXY and as Gold maintains supported by the upward trendline, look out for a possible breakout to the upside.
A confirmation of the move to the upside would be signaled if the price breaks above 1980, but the key resistance level of 2000 is likely to hold strong.
However, anticipate choppy price action as the market adopts a risk-on sentiment, which is likely to lead to some shift away from Gold.
Anticipating further downside on the DXY and as Gold maintains supported by the upward trendline, look out for a possible breakout to the upside.
A confirmation of the move to the upside would be signaled if the price breaks above 1980, but the key resistance level of 2000 is likely to hold strong.
However, anticipate choppy price action as the market adopts a risk-on sentiment, which is likely to lead to some shift away from Gold.
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