GOLD: consolidation before the publication of the volume of production orders in the US

February 3, 2015

XAUUSD

Buy on a level breakthrough of 1285 with 1305 target. Stop loss = 1270.

Reason for the trading strategy

Today at 15.00 GMT, the volume of production orders in the US for December 2014 will be published. The expected decline of 2.2% (m/m) may put pressure on the world's reserve currency and support the demand for gold. In the breakdown of the $1285 level, opening long positions is worth considering.

GOLD, H4

Publication source
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