Gold : Bull Breakout incoming
Under massive buying pressure, Gold has rejected with difficulties levels between 1720 and 1740. However, Jerome Powell will speak later today, triggering movements. The USD (DXY) Has shown harsh weakness towards the end of Thursday's Session and it should translate into a delayed reaction on CFD's. Gold could very easily break out and create a newer high to the psychological level of 1800. I wouldn't be surprised at all to see Powell's Speech push things up. If you're looking at entering, you should enter via a pending order using structure as a SL and TP
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.