XAUUSD: Waiting for breaking an important resistance, 10-08-2018

Aug 9, 2018

Still the analysis of Gold is going on the way we mentioned in our previous analysis. Still it's going to form an up-trend.. But we will not enter a trade till the price breaks a resistance of 1217.7 with a bullish candlestick of a high momentum. This will give us a signal to go Long safely.. I think this will hit a target of 1223 to 1235.. Also, if the weekly time-frame closes with a bullish candle it indicated without any doubt that a price explosion will occur at least the price will hit 1245 to 1300.. By the other hand, we have to watch carefully economic news and indicators especially those which affect USD..