Gold dropped near $1700 as US dollar rallied earlier today. However, it quickly moved up towards $1712. XAUUSD corrects from three-week highs after rejection at the 50 DMA at $1724. $1700 area could offer temporary support below which the previous day’s low of $1695 could be revisited. We are still looking to buy Gold as long as it is above $1700.
Note
Gold target $1720 reached successfully.Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.