Gold may drop below 1600Hello friend, if you read my weekend analysis, you remember about my plan to sell gold at 1725 with SL above 1750 and TP at 1650. So, far neither SL nor TP has reached :D
Looking at the current price action in the daily chart, it looks like Gold may drop further. In the hourly timeframe too, Gold has dropped below the 100 hour EMA and as long as it stays below that, XAUUSD is likely to drift a little lower.
However, at this point, I would recommend traders to actually avoid trading Gold.
