By FXEmpire.com
The gold markets feel hard on Monday as the fears out of the European Union continue to push the value of the US dollar higher. The Euro fell hard, and the resulting strength of the Dollar had a large impact on this commodity. The $1,500 level is still our “line in the sand” as to whether or not we would be buyers or sellers, so as long as that level holds we aren’t necessarily looking to sell this market. However, the recent action is very poor, and short term traders could see value in shorting the market on a break of the daily candle for Monday, taking profits above the $1,500 level as it should produce a bounce.
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Originally posted here
