GOLD---will it hit 1400.00 near term or going below 1300.00 ??

Euro’s test of the 1.40 level against the U.S. dollar will be used as a trigger to trim positions. Drastic moves typically signal the end of a rally as the final skeptics and last buyers try to hop on a trend, so Last Tuesday and Wednesday’s moves put me on alert. and Thursday Bearish Engulfing Candles signalling reversal may be imminent,  I am now expecting some kind of correction that will cool things off and provide the next buyable dip


Gold may still be lifted possible near 1400 before plunging down, as 1400 is the 100% extension from 1048-1270 advance., but only below 1320 will confirm the Bearish reversal.


As the Dollars weakness may persist much longer, the breaching  of level 1400  can not be discarded. Euro/usd may be traded within a close range from 1.3950-1.1450  near term, and resulting in  Gold  to be in Bearish reversal as Investors may view Gold as Bubbles for prices beyond 1400.






Daily chart for Gold with Trendlines and support /resistance