Gold is showing the pull back as anticipated. Key support appears to be a little higher than I had anticipated, closer to 597, which also matches the S1 for you pivot followers. For those who do not trade gold, the Aud/Usd appears to be mimicking the gold move today with a pull back to recent resistance acting as a new support. A buy at 0.7320 would be a decent entry point targeting a potential move to 0.7400 over the next day or two.
While I am typing this I am seeing gold push back up. I think I will get in near $597.50. If gold can break $603 as mentioned yesterday, I will expect a push towards $611 as the next point to watch.
All positions are still in the black and running well this morning.
Blake Young
Random Acts of Forex
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