Two expectations for the GOLD (Caution for Major FX crosses)
XAUUSDXAUUSD
Price has been trading within an upward channel for a month now with price trying to find support around the lower boundary.
If price is able to breach the 200 EMA around 1465, it will look to target the upper boundary of 1490 while meeting some resistance on the 1475 area.
on the other hand, if price fails to push upwards and breaks lower, it should target the 1430 area.
it might be a good idea to look for a trade in the Gold as for the remaining of the week the Major FX's will be expected to see some strong volatility with the USD expected to react to the Fed reserve's interest Rate and CPI data, as well as tomorrow's UK elections which will affect the GBP as well as the EUR with the latter expected to react to the ECB's interest rate decision.
Traders of most of the Fx major crosses should be cautios .
USDJPY
GBPUSD
EURUSDEURGBP
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