FX.co ★ Trading tips for gold

Gold has been testing the resistance levels in the daily chart over the past year. It created prerequisites for pressure and a possible breakdown.

Yesterday, another increase was seen, thanks to strong data on US jobless claims.

This bullish move could extend today if data on unemployment turns out to be weaker than forecasts. Gold may even trade higher than $ 2,000.

If that happens, long positions should be taken, while short positions should be avoided. This follows the strategy of "Price Action" and "Stop Hunting".

Good luck and have a nice day!