XAUUSD Technicals JULY WEEK 2
XAUUSD (gold) had a big week.
I’ve liked the metal higher for months now, and I’ve stated in the past that a close above 1800 could pave the way for a run at all-time highs near 1900.
XAUUSD managed a close above 1800 last Wednesday.
As long as it holds as support on a daily basis, I like the idea of a move higher, perhaps to test all-time highs at 1900 or just above.
On the other hand, a daily close below 1800 would signal short-term weakness and may even expose 1750 support.
That said, I’ve liked the idea of buying dips or bullish breakouts on XAUUSD since April, and that sentiment hasn’t changed. But on the way we can make few pips by the bear runs.
I’ve liked the metal higher for months now, and I’ve stated in the past that a close above 1800 could pave the way for a run at all-time highs near 1900.
XAUUSD managed a close above 1800 last Wednesday.
As long as it holds as support on a daily basis, I like the idea of a move higher, perhaps to test all-time highs at 1900 or just above.
On the other hand, a daily close below 1800 would signal short-term weakness and may even expose 1750 support.
That said, I’ve liked the idea of buying dips or bullish breakouts on XAUUSD since April, and that sentiment hasn’t changed. But on the way we can make few pips by the bear runs.
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