After NFP last week, I anticipated the price to go up but the 1780 area is indeed a strong resistance (as anticipated too). On my zoomed-in daily timeframe, gold shows a bullish inverted hammer which shows me that it's not down and out yet, but as long as the price is still under 1800, gold is not out of the woods as yet. 1720, 1740 and 1750 are in my view the support levels for gold. For me, I'm short term bullish biased. The upcoming news events will be the referee between XAU and USD.
Please let me know what you think.
Please let me know what you think.
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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.