By FX Empire.com
The gold markets fell hard during the Monday session as the situation in the EU continues to dominate headlines. The Bank of Japan also intervened in the USD/JPY pair overnight, and as such the value of the USD rose during the session. The market fell to the $1,700 level, and managed a small bounce from the area. The $1,700 mark looks supportive, and this market is certainly in an uptrend as well. Because of this, we are interested in buying this market as it look like a break out, retest, and possible support at this point – a classic technical analysis set up.
Read FX News here.
