For the last weeks, Gold has been closely trading in between the diagonal support and resistance.
The question now is: Where is it going next? We can expect a good Risk to Reward in both directions. I will wait for a break in a certain direction and wait for the retest afterward. More likely after the Higher inflation data and tensions in the Red Sea with the Hauthi rebels spike up is expected. However, the dollar was showing resistance with the better-than-expected economic data last two weeks so consolidation is also on the table.
What is your idea or view? Comment below and lets make a nice and positive discussion.
The question now is: Where is it going next? We can expect a good Risk to Reward in both directions. I will wait for a break in a certain direction and wait for the retest afterward. More likely after the Higher inflation data and tensions in the Red Sea with the Hauthi rebels spike up is expected. However, the dollar was showing resistance with the better-than-expected economic data last two weeks so consolidation is also on the table.
What is your idea or view? Comment below and lets make a nice and positive discussion.
