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.