XAU/USD LONDON SESSION ANALYSIS
As we wait for Wednesday (interest rate decision day), we see that gold has had a relatively flat day thus far with the day before maxing out how high the price can go. I think at this point we have run low in liquidity which is causing price to lose momentum. That does not mean i think gold will be shorting right now and in all actuality, i think price has the potential to go even higher especially with the RSI floating in the middle of the chart, indicating we still have space for more.
In any sense, I have marked a liquidity zone that gold is bouncing on in it s consolidation period, with the information that i know with RSI and the consolidation, on top of the fact that gold is at an all time high now with extra confluence from the fear of the USDX edging lower and performing under par, I am confident in believing in a continued long position although im not sure how much more we have got. My next "psychological" level is 2600 and i believe we can make it there.
Simple analysis today, gold wasn't too crazy today as we can see.
Good luck traders, take your time and be wise with your trades
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In any sense, I have marked a liquidity zone that gold is bouncing on in it s consolidation period, with the information that i know with RSI and the consolidation, on top of the fact that gold is at an all time high now with extra confluence from the fear of the USDX edging lower and performing under par, I am confident in believing in a continued long position although im not sure how much more we have got. My next "psychological" level is 2600 and i believe we can make it there.
Simple analysis today, gold wasn't too crazy today as we can see.
Good luck traders, take your time and be wise with your trades
Follow me for more trading ideas!
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