We are again seeing a similar setup with Gold/USD
Price has come to meet a major support zone and we are seeing rejection of this zone. There are many fundamentals behind this trade also, yesterdays FOMC announcement and the major stimulus package released again by the US government which is weakening the buying power of the Dollar which in turn will increase the price of Gold
On market cipher we are seeing a loss of momentum of the downtrend move on the 1hr and also the 4HR.
LONG ON GOLD!!!!
Let me know what you guys think
Price has come to meet a major support zone and we are seeing rejection of this zone. There are many fundamentals behind this trade also, yesterdays FOMC announcement and the major stimulus package released again by the US government which is weakening the buying power of the Dollar which in turn will increase the price of Gold
On market cipher we are seeing a loss of momentum of the downtrend move on the 1hr and also the 4HR.
LONG ON GOLD!!!!
Let me know what you guys think