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Shortxauusd

European Session XAUUSD fear from $XAUUSD Technical Overview: Pivot: $1197.20 Day Trading Range: $1200 - $1186 Key Resistance: $1196.44 - $1200.00 - $1205.89 Key Support: $1193.35 - $1189.56 - $1186.78 Technical Indicators: Moving Avg: SMA100 ($1198.33) & SMA200($1200.12) strong resistance for the day. MACD: MacD is having low buyer volume and try to get seller volume soon. Most Likely Scenario: short positions below 1197.25 with targets at 1192.00 & 1187.50 in extension. Alternative scenario: above 1197.25 look for further upside with 1200.00 & 1202.00 as targets. Fundamental: Yellow Metal continue to be held hostage to the US dollar which can’t seem to get its direction Set. This has a lot to do with emerging markets and of course the global trade issues, and as a result the gaining US dollar continues to weigh upon the Gold markets overall. If that’s going to be the case, I think that the market will probably continue to offer selling opportunities on rallies, and that’s probably how you should play this market. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic
Yellow Metal Struggling After US Job DataXAUUSD Pivot: 1198.00 Day Trading Range : $1186.45 - $ 1198.89 Key Resistance: $1196.45 - $1198.89 - $1204.00 Key Support: $1189.56 - $1186.45 - $1182.27 Technical Indicator: Moving Avg: SMA1100($1196.60) & SMA200($1204.16) both are strong resistance for yellow metal for the day. MACD: MacD having negative volume for Gold. Most Likely Scenario: short positions below 1198.00 with targets at 1193.25 & 1190.00 in extension. Alternative scenario: above 1198.00 look for further upside with 1203.00 & 1207.00 as targets. Fundamental: Gold futures closed lower last week with the selling pressure attributed to safe-haven buying of the U.S. Dollar and a jump in Treasury yields fueled by stronger-than-expected U.S. Non-Farm Payrolls data. The selling could have been worse, however. Bullish speculators seem to believe that the Fed is moving closer to neutrality, which means the dollar is not likely to strengthen very much. Additionally, safe haven buyers are also taking positions in the Japanese Yen and Swiss Franc. If you trade the relationship between gold and the Dollar Index and your bullish gold, all you’re hoping for is a rally in the Euro. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic