GOLD (XAUUSD) - keep melting
Updated
Gold has been falling as USD has been gaining strength over the past month or so. We've broken through some major levels with momentum including a strong bullish trendline that has been acting as a support for all of 2017 thus far. It looks as though the next 6 months of this year could be well different than the first 6 months that started 2017. If US economic data allows the FED to go onwards with its plan of another rate hike this year USD could continue this trend to new highs in 2017 and thus sending gold lower.
Note
nope, broke trend. Theres always alternative scenarios
Related publications
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.