Gold price fell below the support of $1936.00 during Asian trading, after slipping beneath the $1952.00 cushion due to the US economy's approaching default.
Technical indicators suggest a downside risk in the daily chart.
The US Dollar found support due to positive macroeconomic data and the gloomy market mood. The currency remains strong, while the stock market ignores concerns about the US debt ceiling limit.
Today, Gold is returning to retest the price zone around 1953$ before continuing its fall.
The nearest target is back to 1935$ -1930$
I still choose the SELL beat for today.
The previous Break Out and BUY strategy for GDP news is about to be completed.
Technical indicators suggest a downside risk in the daily chart.
The US Dollar found support due to positive macroeconomic data and the gloomy market mood. The currency remains strong, while the stock market ignores concerns about the US debt ceiling limit.
Today, Gold is returning to retest the price zone around 1953$ before continuing its fall.
The nearest target is back to 1935$ -1930$
I still choose the SELL beat for today.
The previous Break Out and BUY strategy for GDP news is about to be completed.
