On the Weekly time frame last week market was not able to break above the structure resistance, for which there is a possibility market might retest the resistance and start it's downfall
Most important Secondly Inauguration of Donald Trump could have a very strong effect on Dollar so most probably we will see a downward movement on Gold.
What we have today?
As opening of Tokyo session, we predicted that gold have to respect the previous support area at 2690 and move above ,if market remains below 2720 we'll be on brearish cycle till 2640.
On the other hand todays in Us ,we have Donald Trump oath inauguration and Holiday, .
If any 4H candle closes above 2720 ,we'll jump on buyer sides and my optimal target will be 2750.
Most important Secondly Inauguration of Donald Trump could have a very strong effect on Dollar so most probably we will see a downward movement on Gold.
What we have today?
As opening of Tokyo session, we predicted that gold have to respect the previous support area at 2690 and move above ,if market remains below 2720 we'll be on brearish cycle till 2640.
On the other hand todays in Us ,we have Donald Trump oath inauguration and Holiday, .
If any 4H candle closes above 2720 ,we'll jump on buyer sides and my optimal target will be 2750.
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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.
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.