In this video, the Trader Guy looks at the commodity, gold for the April 20th session.
Gold/USD — The market closed no Friday session towards the bottom of this candlestick, as you can see from the daily chart. Also, gold is now trading below the $1,700 level. The area below is strongly supportive, including the 50-day EMA. So, you can expect a pullback, and a bounce. And pullbacks are to be seen as value at the moment. To the upside, you can expect the market to reach towards the recent highs. Also, the actions of the Fed and the ECB will help gold prices to rise further.
© Prabhu for Forex Videos, 2020. |
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