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XAUEUR – Holding Stable Above 20 EMA & Dynamic Support (daily chart)
As we talked about in our weekly commentary, we’ve been bullish on gold vs. the EUR lately and after a few days of low activity, the precious metal has gained strongly today.
Notice how the daily 20 EMA and dynamic support has held the PM for the last 7 days. I’m currently long and in profit as you can see below.
Above 1125, we should be testing the yearly highs around 1155. Beyond here we have 1200 and 1255 so continue to look for longs on weak corrective pullbacks.
Only a daily close below 1064 would negate my bullish bias.
…... Keep reading