Gold is setting for the recovery
Gold might recover within a trading range with a potential target of $2400-2500 area.
The demand for "safe haven assets" has not gone anywhere. As yields of 30-year treasury bonds are moving down, and the US dollar is under pressure, Gold may get support this week.
From a technical structure standpoint, XAUUSD is moving within a second day of the recovery from the local dynamic support zone.
This may potentially lead to the development of the upswing.
Volatility is greater than normal, that's why stop-loss levels within a day should be slightly greater than normal. I consider a $10 (1000 pips) stop at the area of $2304 to protect the position.
Manage your risks at all times!
The demand for "safe haven assets" has not gone anywhere. As yields of 30-year treasury bonds are moving down, and the US dollar is under pressure, Gold may get support this week.
From a technical structure standpoint, XAUUSD is moving within a second day of the recovery from the local dynamic support zone.
This may potentially lead to the development of the upswing.
Volatility is greater than normal, that's why stop-loss levels within a day should be slightly greater than normal. I consider a $10 (1000 pips) stop at the area of $2304 to protect the position.
Manage your risks at all times!
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