Below $1300 and looking to stay!
Another week coming to an end and it has been interesting as always, Gold actually broke my bottom horizontal resistance and is holding below, genuinely so surprised, showing you really never can be certain!
Monday was a pretty stable day for the precious metal, holding around the the $1280 level throughout the day without any data releases to create much shifts within the markets. Tuesday saw a bit more movement as we had the US Building Permits and the ECB President Draghi speaking, as expected there was volatility. Building Permits came in 500k below forecast, which helped reduce the negative consequence of the continued rally in the US Dollar.
Wednesday, Thursday and Friday just saw the continued decline for Gold, falling in to the $1260 mark after more bullish movement for the US Dollar, so it will be interesting to see how far this dip goes before a rebound or maybe we won't see this.
Next week I am going to spend some more time looking into the major forex markets and of course Gold to get a jist of where I believe the markets could go in the near future!
Peace.
The Naive Trader.
Forex Factory, 2018.
IG.com, 2018.
TradingView.com, 2018.
Monday was a pretty stable day for the precious metal, holding around the the $1280 level throughout the day without any data releases to create much shifts within the markets. Tuesday saw a bit more movement as we had the US Building Permits and the ECB President Draghi speaking, as expected there was volatility. Building Permits came in 500k below forecast, which helped reduce the negative consequence of the continued rally in the US Dollar.
Wednesday, Thursday and Friday just saw the continued decline for Gold, falling in to the $1260 mark after more bullish movement for the US Dollar, so it will be interesting to see how far this dip goes before a rebound or maybe we won't see this.
Next week I am going to spend some more time looking into the major forex markets and of course Gold to get a jist of where I believe the markets could go in the near future!
Peace.
The Naive Trader.
Forex Factory, 2018.
IG.com, 2018.
TradingView.com, 2018.
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