Gold holding above 11780 (Last week's range highs)

Orlando Gutierrez Learn 2 Trade

After last Friday's move (-2.17%) Gold has rallied from a very Thick zone (1745-1760) towards the top of last week's range whilst still trading inside of a very steep bearish structure.

The DXY is very bearish at the moment and that should bring more bullish pressure in Gold more so if it's holding above last week's range high.

The next key level that could cap the upside in Gold is last Thursday's lows. which could keep Gold trading inside of this bearish structure.

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Author

Orlando Gutierrez

Learn 2 Trade

Orlando has been involved in the financial markets for about 10 years. His focus is Global Macro and he is a strong believer that the best way to trade the currency markets is focusing on the big picture and holding on to big macro trends.

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