After last Friday's NFP results affected the USD and gave it more strength, GOLD was forced to continue bearish pressure.
We see that during the last 2 weeks, gold made a retest to a supply area at around $1215.00. Here, more sellers have entered putting more pressure on the long-term downtrend. A continuation should follow and we should see price retest lower support areas.
EMAs used: 14, 50
Favorite position:
SHORT
TP1: 1190.00
TP2: 1185.00
TP3: 1175.00
We see that during the last 2 weeks, gold made a retest to a supply area at around $1215.00. Here, more sellers have entered putting more pressure on the long-term downtrend. A continuation should follow and we should see price retest lower support areas.
EMAs used: 14, 50
Favorite position:
SHORT
TP1: 1190.00
TP2: 1185.00
TP3: 1175.00
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.