GOLD BENEFITING FROM USD WEAKNESS
GOLD fell sharply yesterday with the 0.25% rate increase but seasonally is long along with the EURO. This seasonal pattern looks to be playing out here and GOLD longs look likely to continue.
Look for pullbacks on lower timeframes to key structure highs, and moving averages before looking for continuations long.
The next structure resistance will be ideal targets up at the 1270.00 area.
Look for pullbacks on lower timeframes to key structure highs, and moving averages before looking for continuations long.
The next structure resistance will be ideal targets up at the 1270.00 area.
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.