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XAUUSD GOLD Forecast and Technical Analysis

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XAUUSD GOLD Forecast and Technical Analysis

Fundamentals:

Safe Haven and U.S. Tax Reform

Gold prices added to gains from Wednesday's session after the dollar fell on reports that Senate Republicans on Thursday will propose delaying a cut in the corporate tax rate from 35% to 20% until 2019.

The news of a possible delay to corporate tax cuts halted recent risk-on sentiment, fueling a flight-to-safety as traders appeared to unwind their bullish bets on riskier assets which followed on expectations that President Trump's tax-reform plans would be enacted before year-end

Gold dipped in Asia on Friday but remained well supported on Middle East tensions between Iran and Saudi Arabia and await a summit in Vietnam among Asia-Pacific nations.

Dollar Index has from 94.80 to 94.37 almost 40 pips. But remained above MA 100.

Technicals and Forecast

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This article was written by Emre Tutucu for http://www.fxters.com/xauusd-gold-forecast-technical-analysis-5/ on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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