GOLD
My technical view of Gold/XAUUSD
XAUUSD/GOLD has been in a consolidation play between 1680 to 1750 since April 13th. The instrument could have either of these two scenarios:
A) A confirmed break above 1750 to send the pair higher to 1900 (highs of Sep 2011)with possible stop and/or reversal in the middle (1800).
B) Break below 1680 could take Gold price to 1450 (Lows of March 2020).
In conclusion, I'm still thinking on LONG on Gold since the uptrend is still intact however I will wait to see how the current consolidation ends.
XAUUSD/GOLD has been in a consolidation play between 1680 to 1750 since April 13th. The instrument could have either of these two scenarios:
A) A confirmed break above 1750 to send the pair higher to 1900 (highs of Sep 2011)with possible stop and/or reversal in the middle (1800).
B) Break below 1680 could take Gold price to 1450 (Lows of March 2020).
In conclusion, I'm still thinking on LONG on Gold since the uptrend is still intact however I will wait to see how the current consolidation ends.
Zlecenie aktywne
It played out so nicely!!
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