In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we discuss how the USD turnaround gives us a good Gold trade.
The reason for this end of day move we saw in last night’s markets was apparently down to further dovish commentary from FED officials blended with Donald Trump announcing that a US warship has shot down an Iranian drone. This has further increased tensions in the region.
As a result, from a technical perspective, we have seen the Gold market breakout from significant consolidation. Additionally, we are now trading above the monthly high so we have a number of reasons to expect continuation to the upside above yesterday’s high of $1448.
USD Turnaround Gives Us a Good Gold Trade – Full Video Analysis
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