GOLD Breakout Back at Major Support

Trade Idea:

Gold is once again back at key support level ahead of Powell’s testimony, FOMC minute and CPI report. With volatility expected to increase in the second of this trading week, there’s a high probability that gold could bounce back to major resistance again.

Chart:

Trade Details:

Positioning: Long
Time frame: 1H
Length of Trade: 2 Days to 1 week

Entry: Between 1392.00 to 1387.00
Stop: 1380.00
Exit: 1435.00

Market Positioning:

XM Broker: High Speculative Appetite

Oanda Broker: Moderate Speculative Appetite (Blue=Long)

IG Broker: Low Speculative Appetite

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