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The price of #GOLD has recently broken out of key highs showing potential upside. Now the price is back at a key support, will we see the price move higher again?

Watch the video to learn more…

GOLD Analysis

forex chart of the day gold

Just like Silver in one of our previous videos Gold is seasonally bullish this time of year. And with growing uncertainty in the market surrounding Omicron we could see investors use Gold as a safe haven in the short term. 

Looking at the weekly price action we can see that the market found support after breaking through the low candle range lows. The high volatility news week drove the price back higher in line with the seasonal analysis. If this market is going to move higher we could expect to see an uptrend form. The 4hr time frame does show a higher highs has formed and the price is currently testing a key support. If the price breaks the counter trend trendline we can look for buyers to step back into the market.

Do you trade NZDUSD? check out our latest analysis here.

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