2nd of December, anticipating a FED hike rate to come in play this month, price is being drove lower as you can see since Trump has been elected the New president of USA. The yields were flat and as of late we have seen a curve forming on the yields to imply a boost in economy. Looking for Gold to be bearish short term down to the 1125-1107 range i have marked...
I think that on this pair there is a potential long opportunity for us, reason being; there has been a rejection of the support at 1160, which is a strong support on the day chart, the bearish move over the last week was due to the news that came out on the dollar, A break of the 200DEMA can see a potential long all the way up too 1217.
I think that on this pair we will be seeing a dramatic drop in price over the course of the week, the 0.5 on the fib retrace meant is being tested and if we see that broken then Id think that the price will also break the 1.523 resistance and fall jus below 1.5200
