XAU/USD End of The Road?
We have finally seen USD 1.650′s for gold. It seems like the upward move is coming closer to an end as EUR/USD is also having hard times to pass 1.2900.
I expect the downside move to continue till 1.625 and 1.603 initially. A move above yesterday’s highest (1.662) can cause the upward move to last till 1.670′s.
I still vote on downside, but it may be more painful than expected. We can see critical levels (1.670) broken which may cause us think that things have changed.