XAUUSD falls to one week low amid stronger US dollar, currently near $1740. A move below $1740 would open the path to $1730 which is previous month’s high. On the flip side, the resistance is near $1750 level which can be retested. We expect Gold to move down to test the demand area. The traders may prefer to wait for a fresh catalyst from the FOMC minutes on Wednesday and other key US macro data to determine the near-term trajectory for Gold.
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.