Good day, dear traders!
Yesterday's gold plan has already been worked out, and at the moment the price is trading above the level of 1495.25, which speaks only about the strength of buyers. Yesterday's speech by Powell was not interesting for the market, but Trump's tweets, Fed statements and the situation with China were able to create a news background for Monday, and the breakdown of the desired level for gold passed "with a spark", on high volatility. On a weekly scale, we are inside the weekly pin bar in trend.
Today, we need to continue to monitor the behavior of gold in the US session after 13:30 (London time), and if the Americans support the zeal of the buyer, the breakdown of the upper level of 1519.35 will be the most likely and preferred event.
It is interesting to note that the market expects another speech by Jerome Powell at 18:50 (London time), which can be a significant driver for today. It is also likely that a new piece of news will appear around China and Turkey, which also must be taken into account.
If you followed yesterday's trading idea, I recommend moving the positions to breakeven and taking profit in 1519.
And I can only wish you good luck and even more profit!