GOLD (XAU/USD) – Week 12 – Important resistance level.
Last Wednesday, Gold reached its highest level in more than two weeks as the price reacted to the FED’s decision to keep its benchmark interest rate unchanged for the next two years.
This week we expect the price to test the $1780 resistance area and then resume its downtrend. We may be close to a reversal, but we don’t expect it just yet. The price-action will be a good indication of what will happen next.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
This week we expect the price to test the $1780 resistance area and then resume its downtrend. We may be close to a reversal, but we don’t expect it just yet. The price-action will be a good indication of what will happen next.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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