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XAUUSD tug of war between bears and bulls!
Gold/US Dollar SAXO:XAUUSD
mr_mat_sa
Simple as can be 2365-2360 has held up the last 4 days, I'm expecting the resist to hold up and we can get some nice long positions at 2364 level. Let's fold our hands and wait to see the reaction at support on the LTF (lower timeframe).
It is important to factor in key economic data and compare the movement of the dollar (DXY) to try and figure out what is happening as gold traded against the dollar. It is again also good to consider the dollar is losing strength just not as fast as the other pairs, what's making it seem strong is the weakness in other pairs that why we see features soaring.
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