XAU/USD. Analysis & Forecast
Gold over the US dollar remained choppy for entire week. However, multiple breakout attempts failed and closed below 50 Day EMA which is a bearish sign in my opinion. On fundamental grounds, the only catalyst at the moment was US stimulus optimism before US elections which has been faded and Gold price retreated back below 50 Day EMA. So now in my opinion buying is not an option as long as prices stay below 1930$ i prefer shorts with target 1854 and 1790 level. We have long term support at 200 Day EMA which is yet pending to be retest. Stay short on your positios and goodluck with your trades.
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