Gold has just made an attempt of testing the $1790 level but has failed to surpass it. These key confluence zones always have an impact on Gold whether that's to the upside or to the downside. As there wasn't any conviction with this recent price action it's likely for Gold to fall again towards the $1770 levels. This week in the US, the Fed will reveal its interest rate decision which could cause the price of gold to test even lower levels such as $1762. The stop loss area for this trade is located at $1794.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.