XAUUSD long idea
Updated
Gold price reached seven-month highs above $1860 in European session as the US dollar is falling. The fresh upside move in the XAUUSD price could be also attributed to the big technical breakout on the daily chart, breaking to the upside from the ascending triangle and closing above $1825. Previous strong resistance now support lies at $1850. The bullish momentum has been triggered and a pullback might be seen as a buying opportunity. FOMC minutes will have a bigger impact on gold price today during the US trading session.
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