XAUUSD GOLD Forecast and Technical Analysis

Fundamentals:

Safe Haven and U.S. Tax Reform

Gold prices added to gains from Wednesday’s session after the dollar fell on reports that Senate Republicans on Thursday will propose delaying a cut in the corporate tax rate from 35% to 20% until 2019.

The news of a possible delay to corporate tax cuts halted recent risk-on sentiment, fueling a flight-to-safety as traders appeared to unwind their bullish bets on riskier assets which followed on expectations that President Trump’s tax-reform plans would be enacted before year-end

Gold dipped in Asia on Friday but remained well supported on Middle East tensions between Iran and Saudi Arabia and await a summit in Vietnam among Asia-Pacific nations.

Dollar Index has from 94.80 to 94.37 almost 40 pips. But remained above MA 100.
Technicals
READ MORE

GOLD-DAILY-CHART-2

Source: http://www.fxters.com/xauusd-gold-forecast-technical-analysis-5/

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.