FXCM’s Top Down Gold Analysis

FXCM's Top Down Gold Analysis for FX:XAUUSD by FXCM

FXCM’s Top Down Gold Analysis

Gold/U.S. Dollar FX:XAUUSD



Peak and trough analysis on the monthly chart puts gold in a downtrend. The weekly chart is also at a key level when considering the triple moving average system. Moreover, it has an extremely strong inverse correlation with the USDOLLAR on the daily timeframe . Given this, the NFP print tomorrow is likely to impact on gold as the USDOLLAR reacts to the release. This explored in our video analysis.

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