Gold Bullish Trend Continues

Gold has made a big bullish bounce after the FOMC statement yesterday. Dovish FED helped the bullish move and the price bounced off W H3 camarilla pivot.

Safe haven flight into GOLD just continued the prolongued Gold uptrend. We can see that the dip has been bought and the price is getting close to M H3 level. In this scenario, bounce is possible at 1705 and 1726 towards 1755. If the price gets to 1755-60 we might expect a pullback towards 1726 again. Watch for price levels and reactions in the zone.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.