Another update on gold (XAUUSD)

Written by Raul Lopez on . Posted in Trades & Analysis.

You know I’ve been monitoring gold (XAUUSD), I was waiting for it to break the ST resistance level around 1681.51 and guess what? It just broke that resistance level. This means that as long as gold stays trading above this level, it is likely to continue its way up, in short: gold will go up:

How far up could it go?

I’m a firm believer that it will reach new historical highs, but I don’t trade based on what I think or what I believe. It has a strong resistance level around 1910.77, so all TP orders should be set just below that level.

I’ll keep you posted.

Trade Safe!

Raul Lopez
Forex Training

forex, trading gold

Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .
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