XAU/USD LONG
POTEINTAL TRADE: XAU/USD
Gold is showing signs of more explosive moves to the upside. We will wait for a re-test of the $1550 level before entering a buy position. We also have increasing tension between U.S and Iran, which should push gold further to the upside. Since it is a safe haven asset, during times of economic uncertainty and tension between strong forces, investors tend to put their money in gold. We will combine these fundamental reasons with the technicals which also point towards more upside momentum.
Gold is showing signs of more explosive moves to the upside. We will wait for a re-test of the $1550 level before entering a buy position. We also have increasing tension between U.S and Iran, which should push gold further to the upside. Since it is a safe haven asset, during times of economic uncertainty and tension between strong forces, investors tend to put their money in gold. We will combine these fundamental reasons with the technicals which also point towards more upside momentum.
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