Hit 50% Fib on gold. Could we be heading for 1190?
We've hit the 50% Fib level from the low levels in December 2016 to the high in April time 2017. We tried to hit that high once more and failed. With NFP today confirming an increase in jobs in the US this has given buyers hope of an interest rate hike. But look what happened the last time that happened, USD JPY and the Dollar bottomed out. Could we be heading for 1190? 1200-1204 is a strong phycological support. I am watching USDJPY for a break above 114.40 to see where GOLD ends up...