Sell on a level breakthrough of 1226 with 1180 target. Stop loss = 1260.
Reason for the trading strategy.
Increase of the yield on long-term US government bonds increases the likelihood of an impending collapse of the country's QE3 program. Note that the yield on the 10-year US bonds in the last month increased by 21 bps to 2.61% and on 30-year bonds, it increased by 20 bp. - up to 3.34%. After a recall of the oversold gold prices, they will probably try testing the 1226 dollar support level again.
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