Gold markets are going to continue to struggle with volatility. What will this mean for your trading? Gold Forex
So far, the 200-day EMA has been held, and it does suggest that there is a certain amount of interest in this area. Furthermore, it is at an area that had been resistant previously, and the form of $1850. As long as we can stay above the $1850 level, then it is likely that there is at least an opportunity to consolidate, maybe even recover if we get lucky.
Gold has been struggling due to a strengthening US dollar, something that had been one of the mainstays of the Monday session. We saw the greenback strengthen quite drastically, and this had a negative influence on the gold market. That being said, if the market was to break down below the $1850 level, then it is likely that the market would go looking to reach the $1800 level.
When you look at this chart, you can see clearly that we have been selling off quite significantly over the last several weeks, andPay close attention to the interest rates coming out of the United States, because if the yield on the 10-year note continues to skyrocket, that will work. After all, bonds are starting to offer a bit of a “real yield” at the moment. It is not until we break above the 50-day EMA that I would be a buyer of gold, something that does not look likely in the short term.
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