AS USD KEEPS MOVING HIGHER, GOLD......
With hawkish tone the market is still betting that usd will get stronger. And it would put pressure for commodity such as gold. So for this week there's possibility for gold to break down lower again. I would prefer to wait to buy. The appropriate level in my opinion to buy with quite low risk for gold this week is whenever gold break below 1600 level. It would be around 157x (the lower trendline). And for the target profit area could be between 1661-1717 (38.2%-61.8% fibo retracement area)
Have a good trade all.
Have a good trade all.
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