XAUUSD Week Chart
Wait for breakout 1,284 then long
Alternatively, should a breakdown occur below 1,260 short
Due to uncertainty in the Middle East, probability of XAUUSD going up is likely.
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Extracted from Investing.com
Gold prices made a strong start to the week as investors piled into the precious metal amid growing political uncertainty in the Middle East after Saudi Crown Prince Mohammed bin Salman led an anti-corruption drive which resulted in a series of arrests of prominent Saudi Arabians.
“We have political uncertainty, risk of political instability in this major oil producing country [Saudi Arabia] and also unforeseen implications for the entire region,” Commerzbank analyst Carsten Fritsch said.
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End of extract
Alternatively, should a breakdown occur below 1,260 short
Due to uncertainty in the Middle East, probability of XAUUSD going up is likely.
---
Extracted from Investing.com
Gold prices made a strong start to the week as investors piled into the precious metal amid growing political uncertainty in the Middle East after Saudi Crown Prince Mohammed bin Salman led an anti-corruption drive which resulted in a series of arrests of prominent Saudi Arabians.
“We have political uncertainty, risk of political instability in this major oil producing country [Saudi Arabia] and also unforeseen implications for the entire region,” Commerzbank analyst Carsten Fritsch said.
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End of extract
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