FX.co ★ Gold is growing

Good afternoon, dear traders! I present to your attention a trading idea for gold.

At the last review on Friday, I recommended careful buying on the false breakdown of 1485 and further track the dynamics of the US session. As you can see, the Americans closed higher. This pattern is called a V-shaped buy-off and is a standard model in the world of trading.

The market reaction to this buy-off also showed a positive direction in the European session. Now, it remains to wait for confirmation in the market, and if the opportunity presents itself – to continue to gain a logical position with a great goal and profit-taking at the level of 1519. The fundamental background is also favorable – the probability of lowering the interest rate on the USD is growing every day, and in this case, work on the weakening of the dollar in gold – as they say.

Good luck with trading and see you at the evening review!