Gold Price Weekly Outlook: XAU Breakout Trade Faces First Test | Metals Mine

  • Gold Price Weekly Outlook: XAU Breakout Trade Faces First Test

    From dailyfx.com

    Gold has surged more than 2.8% off the yearly lows with price now testing initial resistance targets. These are the levels that matter on the XAU/USD weekly chart. Gold price surge to May range highs into the close- focus is on weekly close around 1275/76 Check out our 2019 projections in our Free DailyFX Gold Trading Forecasts Join Michael for Live Weekly Strategy Webinars on Mondays at 12:30GMT In this series we scale-back and look at the broader technical picture to gain a bit more perspective on where we are in trend. Gold prices surged more than 1.1% this week after a strong reversal off confluence support. The ... (full story)

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auricforecas
Jun 1, 2019 1:12pm
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The spike might be related to the (temporary - my opinion) USD decline vs EUR or the EUR rebound that we have just seen on Friday. I would bet short for the GOLD (in USD) due to the USD strength that I am betting on, at least relatively to EUR.
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EF5
May 31, 2019 10:18pm
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Gold looks like it is breaking out, but there's not a lot of volume behind it. Could go either way here.

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