Xauusd4h
Trying short on gold at 2050 / deflation phase incomming I believe strong dollar is comming off, we will have another deflation phase as we had on february where all stocks crash and gold will make a correction due to the strenght of dollar also, DXY is oversold at 93 (still a high number) and just made a double bottom, ready for a massive move to 100+ this will send gold to 1700 price again
Sl I will use 2075
TP 1900
TP2 1750
Gold uptrend may continue but be carefulGold pulled back on Friday but the uptrend appears to be intact. In fact, Gold bounced nicely from the 100-hour EMA. If price stays above the area that I have highlighted in my chart, then it's possible that the uptrend will continue.
However, if the 2015 level is broken then the next level of support lies at 1980. Either way, I will be looking at some bullish price action at these support levels before placing buy trades.
XAUUSD potential bounce!
XAUUSD expected to reverse up to intermediate support at 1999.60 where it could potentially react and bounce to its resistance at 1st resistance at 2051.38.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.