Gold makes progress on weak dollar

By FXstreet.com | June 06, 2014 AAA

FXStreet (Łódź) - Vladimir Mihaylov, FXStreet Independent Analyst, points out that gold has made some progress yesterday, benefitting from the weak dollar



Key quotes



"But the only thing it has done was to reach the resistance 1254, daily indicators still point to the downside."



"Resistance comes at 1262 and 1278. Below 1262 the pair is bearish. Below 1246 downside pressure will increase again."



comments powered by Disqus
Related Forex Analysis
  1. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

  2. Video: EURUSD Event Risk, Campaign for USDJPY Reversal, EM Trouble
    Forex News

    Video: EURUSD Event Risk, Campaign for USDJPY Reversal, EM Trouble

  3. EUR/USD possibly sidelined until ECB - FXStreet
    Forex News

    EUR/USD possibly sidelined until ECB - FXStreet

  4. EUR/USD Technical Analysis: Probing Below 1.26 Mark
    Forex News

    EUR/USD Technical Analysis: Probing Below 1.26 Mark

  5. Session Recap: US Dollar advances while Oil collapses
    Forex News

    Session Recap: US Dollar advances while Oil collapses

Trading Center