Steve's Gun to Head - Dollar strength hurting gold
Trade Idea: Sell Gold (XAUUSD)
Reasoning: Price action breaking through short term support and challenging major support area, continuing lower in a major bearish channel (Daily). Continued dollar strength likely to lead to further losses in dollar priced assets.
Entry Level: 1700
Take Profit Level: 1681
Stop Loss: 1708
Risk/Reward: 2.38:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Reasoning: Price action breaking through short term support and challenging major support area, continuing lower in a major bearish channel (Daily). Continued dollar strength likely to lead to further losses in dollar priced assets.
Entry Level: 1700
Take Profit Level: 1681
Stop Loss: 1708
Risk/Reward: 2.38:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
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