TECHNICALS:
1.
- Price may be forming a symmetrical triangle
- commonly known to be a continuation setup
- previous break out of the descending channel points
to a bullish breakout
2.
- Previously resistance found at 1255 (not sure if this is Psychological level or not?)
- This level now may have turned to support with price recently bouncing off it during
the possible symmetrical triangle formation
FUNDAMENTALS:
- Alot of high volatility news items for USD including FOMC minutes,
ADP non-farm employment figures and ISM Non-manufacturing PMI.
- Trade with care as could be some big moves prior/during the releases
- However as well as these alot of geopolitical tensions at the moment are
proving very negative for USD including:
- The North Korea tensions
- Tarriffs
Therefore overall my expectation is for Gold to continue bullish hopefully.
Appreciate any thoughts/comments,
Thanks for reading,
James
1.
- Price may be forming a symmetrical triangle
- commonly known to be a continuation setup
- previous break out of the descending channel points
to a bullish breakout
2.
- Previously resistance found at 1255 (not sure if this is Psychological level or not?)
- This level now may have turned to support with price recently bouncing off it during
the possible symmetrical triangle formation
FUNDAMENTALS:
- Alot of high volatility news items for USD including FOMC minutes,
ADP non-farm employment figures and ISM Non-manufacturing PMI.
- Trade with care as could be some big moves prior/during the releases
- However as well as these alot of geopolitical tensions at the moment are
proving very negative for USD including:
- The North Korea tensions
- Tarriffs
Therefore overall my expectation is for Gold to continue bullish hopefully.
Appreciate any thoughts/comments,
Thanks for reading,
James