In this video, the Trader Guy looks at the commodity, gold for the April 22nd session.

Gold/USD — Gold formed a hammer candlestick on Tuesday session at the $1,700 level, which is psychologically significant. It was previously resistance and now should act like support. The $1,600 level is the short-term floor and the 50-day EMA will also come into play. The fiat currencies are losing value due to the actions of the central banks like the ECB and the Fed. Gold could slowly grind its way to the upside. Hence, pullbacks are seen as value at the moment.


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