GOLD (XAU/USD) – Week 10 – Bond market impacting metals.
The US Dollar momentum combined with rising bond yields and growing optimism surrounding U.S. economic growth impacted the Gold price which broke under the $1700 level.
Our long-term view stands towards a bullish move, but we will act cautiously in the short-term. Without a proper confirmation of a trend reversal, the bears could hang around for a while and could find some shelter in the decision area that we highlighted on the chart.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Our long-term view stands towards a bullish move, but we will act cautiously in the short-term. Without a proper confirmation of a trend reversal, the bears could hang around for a while and could find some shelter in the decision area that we highlighted on the chart.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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