GOLD
Neutral setup
👉🏻 The precious metal has been dumping since the New Year from $1955. Now is seating, for the second time at the major 50% of $1451 and $2075. Friday's close was not a decent candle to go long on, price could break down further to test the 61.8% level. Of course any further bounce could be a favourable indication to go long to the previous highs.
📉 DXY:
The dollar has been in a downtrend after breaking the 95 level, and hovering around the 90 region ever since.
📰 Investors are not as interested in gold as much as previous years. Biden's $1.9 trillion care package is still in the talks to be approved and could be further bearishness on the Dollar if approved.
Neutral setup
👉🏻 The precious metal has been dumping since the New Year from $1955. Now is seating, for the second time at the major 50% of $1451 and $2075. Friday's close was not a decent candle to go long on, price could break down further to test the 61.8% level. Of course any further bounce could be a favourable indication to go long to the previous highs.
📉 DXY:
📰 Investors are not as interested in gold as much as previous years. Biden's $1.9 trillion care package is still in the talks to be approved and could be further bearishness on the Dollar if approved.