The_Rational_Investor

reaching gold buy zone

Long
OANDA:XAUUSD   Oro / Dollaro
Gold had a rejection at 1830-1840 range and now is back at 1800. The buy zone for gold is at 1780-1790. This is a strong area of support. If Gold breaks out from this zone, it will retest its resistance at 1830 and probably break it for 1870. if it fails at the support zone of 1780-1790 it will test 1750. But I would focus on a long position for now, atleast till september till more is known on the fed taper talks. Today's NFP is critical, as it outlines the potential moves for Chair Powell at the Fed.

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