As mentioned in yesterday's article, gold in USD finally resumed with its uptrend and broke easily the 68.2% fibonacci retracement (+/-1237.50) (1) on the daily chart gaining more than $17 (its 2nd home run of the month.) Today, this upward momentum seems to continue.
At the time of writing, an attack near UK Houses of Parliament has been reported and price might move unexpectedly both ways even if the price of gold is in USD and not in GBP. If the situation does not worsen, we can expect that gold in USD continues following its uptrend until we get a daily close below the uptrend line (2) and a warning with the egoldfx TrednStrength Meter, which will send a trend reversal warning.
After the gold strength line crossed above the USD strength line (1), gold started a new uptrend and we can expect gold in USD to continue following its uptrend until at least one of the strength line bounces on a bounce level (3 or 7) (2). Current strength: GOLD: 6.3 USD: 3.2
