As indicated on the chart, the next move could be the down move.. how much it will go down will depend on this speed.. lets see.
I am not selling this down move as it is too small to get involved in it..
If you do plan to take it, be careful and keep tight SL as soon as it goes down - keep it on BE please.
Market has conviction that Federal Reserve will cut down interest rates during their 18th June meeting, to hinder the slowdown in global growth, which has been saddled with protracted trade tensions between America and China. Perhaps, there is no likely imminent resolve between these two economies even during G20 summit in Osaka, Japan. Therefore, all the above...
Short term wave analysis for GOLD..
Please note that i do not forecast 'TIME' for the moves, but waves only.. so it can happen today, tomorrow or day after..
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a flat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
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