Gold marketplaces continued to show signs of exhaustion near the $1830 point on Friday, after jumping there on Thursday, at this point we’ll have to pay special attention to the US dollar, because if it starts to melt, it may just be the catalyst that passld wants to keep rising. If we manage to break above the top of the candlestick of Thursday’s session, then we can move to the point of $1860. This is the peak of the hole we have noticed in this market, and it will be offering some resistance If we can break above there, then it is evident that the market can pass much higher.
On the other hand, if we were to go back a bit, then we could move to the point of $1810, where the 200-day EMA recently stands. Down, the market is also heading towards the $1790 point, which is the back a drop below this point opens up the option of a move towards the $1750 decline point, where we had previously recovered this summer.
If we were to oppose a break below this point, it is very likely that we will move to the double minimum below the $1680 point This is a domain that has a large size and falls below that point that opens up a large sales stream of what I can see. Keep in the brain the negative correlation with the dollar, this will be the most important thing to pay attention to.
For a review of all of today’s economic events, check out our economic calendar.
This article was originally published on FX Empire
GBP/USD Weekly Price Forecast: Sterling Still Looks Solid
USD/JPY Price Prediction: THE US DOLLAR CONTINUES TO STRENGTHEN AGAINST THE YEN
Individual GAC investors have a stronger voice and discuss the number of units
Why Amazon’s inventory is down 7% today
Weekly crude oil price forecast: Crude oil continues to experience upward pressure
Crude oil price forecast: crude oil markets continue to show strength over the weekend