XAUUSD (GOLD) Daily Analysis 3/15/20
Gold Neutral Idea
We have seen that gold has been very bullish overall on the higher timeframes. Last week we saw Gold depreciate against the quick rise of the usd.
From the current level of support around 1515.00 we are looking for one of two potential scenarios.
Price action bounces and sends gold back into the overall bullish trend, target higher resistance and key levels
Price action breaks support and pushes lower. Look for the broken level to be retested with plenty confirmation and target lower
As usd news remains uncertain we will see erratic market movements, when things start to settle so will the market. Normal market conditions will always resume with time.
We have seen that gold has been very bullish overall on the higher timeframes. Last week we saw Gold depreciate against the quick rise of the usd.
From the current level of support around 1515.00 we are looking for one of two potential scenarios.
Price action bounces and sends gold back into the overall bullish trend, target higher resistance and key levels
Price action breaks support and pushes lower. Look for the broken level to be retested with plenty confirmation and target lower
As usd news remains uncertain we will see erratic market movements, when things start to settle so will the market. Normal market conditions will always resume with time.
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