Gold bounced quite strongly, helped by Dollar weakness across the board. Given such a strong bounce, I think it might have a little more room to the upside before plunging. It is possible it has peaked already, but I would like to see it finish a well defined ABC move up, for a wave 4.
Of note: NFP release on Friday, which might have a dramatic effect on all pairs including XUAUSD. So any entries before the release will be quick scalps with small position sizes.
This bounce came from a critical support zone that I was watching in my last post.
That zone in above chart was clearly important, and bulls sure stepped in. Now lets see how much momentum this bounce really has.
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