Gold has failed to close above the key level and am seeing some strength in the usd dollar hence am seeing sells on gold
GOLD is looking for sell at 1641,When everybody is buying GOLD due to USD weak job data. we cannot ignore the overall USD STABILITY in this quarter of YEAR.Coming sell TARGETS will be 1620.And 2ND Target will be 1610.
Fib levels align w/ Swing Trendline & support/resistance.
xauusd potential short. fib trend lines w/ institutional S/R & INST trendline. also, traditional fibs drawn on daily align.
Again, a trade I would not personally take. Unsure as to how to DXY will react this upcoming week.
The monthly chart is bearish and since its always profitable to trade with the trend, I will recommend selling Gold with stops above $1340 and take profit at $1300 check out the monthly chart: www.tradingview.com Read my whole analysis here:http://forex.today/gold-technical-analysis-for-march-7-2018/