Gold has been rising a lot due to weaker USD and scandals involving the Trump family (again). It broke through the resistance zones at 1240 and 1250. Looking for a retest of those zones to buy again seems like a good plan, the 1250 zone has a lot of confluences that would support a buy position. The fed has a meeting mid week and though it seems clear now that they will only raise rates once more this year most likely in December rather than September as planned might cause more selling of USD and buying of gold.
Commentaire:
Took a bit longer than expected but analysis came through