XAUUSD TECHNICAL ANALYSIS SHORT TERM VIEW XAUUSD has made double zigzag correction at level of 1892.50 so it has to fall below 1892.50.Stop loss is 1987.50 and straight target is 1892.50 .Strong resistance area is 1955 to 1987.50 levels. .Trend is negative presently so selling is better with stop loss 1987.50 for downside direction targets1930 AND 1925 respectively.1 minute chart showing calculation for sharp fall below 1925 anytime.
QUICK FUNDAMENTAL LOOK
Gold dips as dollar firms in run-up to US inflation test.Gold eased on Tuesday as the dollar climbed after weaker Chinese trade data, while caution in the run-up to U.S. inflation readings this week also kept appetite for zero-yield bullion subdued.
POC = Risk is a part of trading, use caution when placing orders and take market advice only into account.