XAUUSD
On the upside, if we were to break above the $1775 level, we will have broken through the overall consolidation area that has been so crucial for quite some time. By doing so, we threaten the $1800 level, and then possibly the $2000 level, longer term. With the way central banks continue to print currency, it makes quite a bit of sense that we will see gold pick up a bit of a bid due to the fact that fiat currencies will lose strength overall. Beyond that, there are a lot of negative headlines out there just waiting to happen, and of course that can push gold higher in a bit of a safety bid.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.