Gold we can see has been on a big rise lately helped by a weak USD, however last week we saw some change in market structure that has shown some possible selling opportunities. Gold was in a major supply zone when we started to a change from higher highs and higher lows to lower highs and lower lows in the form of a descending channel. Last Friday's NFP report came out positive for USD which gave gold a kick in the nuts causing big selling to come into the market. Negatively correlating with my USDJPY analysis for this week I expect gold to head down into one of the major demand zones outlined on the chart. Also it's worth noting that the EMA formation is showing a slow in rising prices and a confirmed cross to the downside would signal sellers.
Commentaire:
Nope, Trump causing gold to skyrocket based on war talks.
maybe will reject 1275 again