This week is very important for GOLD in the forex market. It may go up or down based on certain price actions:
It may go up:
1. The next daily resistance level is around 1950.00
2. The market's recent trend is up (bullish)
3. If breaks the 1950.00 level and retests, it may go up until 1980.00
It may go down:
1. As we can see the rejection from the upside
2. The dollar index (DXY) is bullish
3. Previous trend is bearish
So, I'll be very careful this week to take an entry on GOLD.
Research your own and trade safe.
Regards
It may go up:
1. The next daily resistance level is around 1950.00
2. The market's recent trend is up (bullish)
3. If breaks the 1950.00 level and retests, it may go up until 1980.00
It may go down:
1. As we can see the rejection from the upside
2. The dollar index (DXY) is bullish
3. Previous trend is bearish
So, I'll be very careful this week to take an entry on GOLD.
Research your own and trade safe.
Regards