Killer Sidways on Gold Over the US Dollar

2023年10月6日

XAU/USD leashed between a deadly price range for a couple of days. This is very critical price zone as it is the last line of defense for bulls to take charge back again, otherwiss if fails to sustain above 1850/oz then it will be a clear sign of downtrend on medium term. On technical grounds price seems to be very attractive and favourable for longs, However, fundamentals doesn't support my bullish sentiments at the moment but I'm not suggesting the shorts as well. I would suggest to stay neutral until we get a clear confirmation. Don't be hasty in taking any side. Wish you luck with your trades.