XAUUSD is currently setting up a double bottom on the H4, at a 61.8% fibonacci retracement and on a Monthly M2 which is a buy pivot.

I’ll look to enter a long position on this level with my target on the psych level of 1300 USD.

Besides this, the USD Index is currently on a WR1 which may lead to some selling pressure this week and “help” my long position on Gold.

In terms of fundamental analysis, the Catalonia crysis could make investors look for safe havens, where gold stands out.

Gold - H4

Gold - H4

USD Index

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