Today, gold is struggling with upward momentum. Trade here: Forex Trading
Enter your emailI think eventually we will have some type of opportunity for a bigger move, but I am still a little bit hesitant to get involved with gold at this point, mainly due to the fact that the US dollar has been like a wrecking ball.The shooting star is a very negative candlestick and the fact that it has happened three days in a row suggests that there is a lot of negativity just above.
Ultimately, this is a market that I think you need to pay close attention to because the US dollar has such a major influence on it, and of course, we have the Federal Reserve announcement on Wednesday that will greatly influence on what happens with the US dollar. With that being said, I think by the end of the day on Wednesday we might have a little bit more in the way of clarity when it comes to gold.
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