Overall view of XAUUSD - Update of July 1st
Updated
The commodity has been on a continuous bull since the beginning of June's month, and settled on the resistance zone surrounding @1440.000. Prices are sideways and consolidating, waiting for a breakout. G20 meeting ended up with a series of agreements and negotiations, which might confirm and increasing odd of a bear pressure.
Possible targets: @1360.000 (+40.00 per unit or 4,000pips) if bearish trend confirmed or @1500.000(+60.00 per unit or 6,000 pips) if bullish trend confirmed.
Advice: Await for a confirmation.
Possible targets: @1360.000 (+40.00 per unit or 4,000pips) if bearish trend confirmed or @1500.000(+60.00 per unit or 6,000 pips) if bullish trend confirmed.
Advice: Await for a confirmation.
Note
@1400.00 level was successfully broken. The target to aim is @1360.00 (+40.00 per unit or 4,000 pips).Trade closed: stop reached
Gold was strongly pushed up closing our trades. Let's wait for an upward breakout.Note
Our resistance zone has appeared to be very strong. Gold has confirmed the bearish trend due to the recent news : NFP and Unemployment rate.
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