Short

GOLD 01/06: Gold drops waiting for ADP?

Updated

Gold prices rallied to renew intraday highs near 1,965$ in the early hours of the Asian session on Thursday as the US Dollar retreated along with hopes of the passing of the US debt ceiling bill. Passed by the House of Representatives.

XAU/USD is up for the fourth day in a row, but gains remain modest. The daily chart shows the pair trading between the flat 100 Simple Moving Average (SMA), providing support at around 1936$, and a bearish 20 SMA, currently around 1980$. Meanwhile, technical indicators remain negative, heading north with limited upward strength.

I expect a bounce from 1965 to 1970 and we will sell GOLD together around the 1968$-1970$ zone

Stoploss: 1980

The level I expect GOLD to return is 1963$, 1958$, 1950$

I hope everything goes according to plan and you make a lot of money

Trade active

I expect a slight bounce and will go with my prediction

Trade active

Note

Wow Sell 1968 +100pips

SupperTrading-FX

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