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Gold's 2030 level: The risk is a strong dollar invalidating further upside
Watching $XAUUSD here closely. We're testing the 2030 area, which has been a pretty solid resistance. If we can punch through and hold, the next leg up could be significant; otherwise, I'm expecting a retracement, especially if the dollar shows any real strength. A sustained move above 2035 would likely invalidate the bearish short-term view for me.
1 comments · 16 points
Ah, the dollar, the perennial party pooper for gold bulls. One would almost think it enjoys ruining a perfectly good breakout. Let's see if 2030 decides to be a trampoline or just another brick in the wall.