Gold:Probable Sell

05.06.2015 / 11:12

Rating:

Presently the gold is trending downwards, which is confirmed by Moving Average (EXP) with value 50. It also serves as a resistance, which is highly unlikely to be penetrated unless the data due to release later today about the US Dollar is worse than expected. Since both the gold and the US Dollar are negatively correlated, if one collapses the other would rise.

Probable Sell limit- 1176.91, placing the S/L at 1181.90 and T/P at 1168.62, giving you 1:2 risk to reward ratio.

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Gold:Probable Sell

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