Its Christmas so we buy Gold XAUUSD Long
Sold off last week after the FOMC announcements, Price took the buyside liquidity generated during the months early consolidation period and found support at 2584.
This now forms the major low of the month but continued the upward macro trend as it was a HL than that formed in November.
Beautiful bounce from the sell off as price made up majority of the move during the following 8hrs. As per usual but not every time the FED speaks.
The close last week coincided with the quarterly flip which acted as resistance at the close.
My Bias is Long with a resistance at 2727 and once breached, price can break out to the top side with targets of 2650, 2664, 2675.
Initial support is 2717, if broken could send price lower. 2605 and 2587 levels to watch.
Quarterly flip is 26632.
Monthly flip is 2650.
Merry Christmas everyone.
This now forms the major low of the month but continued the upward macro trend as it was a HL than that formed in November.
Beautiful bounce from the sell off as price made up majority of the move during the following 8hrs. As per usual but not every time the FED speaks.
The close last week coincided with the quarterly flip which acted as resistance at the close.
My Bias is Long with a resistance at 2727 and once breached, price can break out to the top side with targets of 2650, 2664, 2675.
Initial support is 2717, if broken could send price lower. 2605 and 2587 levels to watch.
Quarterly flip is 26632.
Monthly flip is 2650.
Merry Christmas everyone.
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