JustinMichaelWeldon

JustinMichaelWeldon

With ZAR recently being downgraded to junk we saw a surprise on Monday market open with immense selling into ZAR strength. We can see from the current analysis we have been following a ever gradual downtrend and a strong point of resistance at 13.80 level, lets see what NFP and next week brings us :)

JustinMichaelWeldon

Interesting position here for Gold as we sit with a close above a extremely strong trend line reaching back as far as 2011/09 (Daily Chart) and most recently 2016/07, while currently the 4H indicates a closed outside of a channel! What will Gold bring for us tonight? Will we see a sell off around 1280 or break through the trend and continue. Wait for confirmation...