Gold analysis today , Gold Restarts Uptrend Ahead of New 2020 Decade

Gold analysis today, Gold Restarts Uptrend Ahead of New 2020 Decade

Gold analysis today , Gold Restarts Uptrend Ahead of New 2020 Decade
Gold analysis today , Gold’s strong bullish price action could complete the bearish wave 4 (blue) correction at the 38.2% Fibonacci retracement level and indicate the beginning of wave 5 (blue). an opportunity above subsequent resistance line (red) could confirm (green check) the bullish continuation towards the Fibonacci targets of wave 5 vs 1+3

The XAU/USD is building a consolidation zone (purple box) after a robust bullish breakout above resistance (dotted lines) and push higher. A bullish continuation is probably going to verify (green checks) an uptrend unless (red x) price makes a robust decline below support (blue

Gold benefits from Dollar weakness

XAU/USD is building

Gold analysis today , In a classic risk-on environment, gold prices tend to fall but not this point. the valuable metal is trading at 2-month highs today, mainly driven by the weakness within the Greenback
Gold analysis today , Another factor contributing to the rally in gold is that the US airstrikes administered in Iraq and Syria against Iranian-backed groups. If geopolitical tensions increase within the Middle East, there'll be more reasons for investors to extend their allocation in gold, otherwise the gold rally makes little sense while equities are making record high,s

Oil traders also are keeping an in depth eye on developments within the region, although prices received a lift from steep declines in US crude stocks
Gold analysis today , Given that we are in season, expect to ascertain some exaggerated moves in currencies and commodities. Flash crashes also can’t be ruled out when liquidity is thin