Gold bounced sharply to the upside this month after USD turned lower across the board following bad NFP figures last week. Price action is very strong from the low and now also around 1270 so we see more and more evidences of a new bullish run. That said, we will now expect more gains after any pullback, which will likely be wave 4 that may look for a support around 1234-1250 area in days to come. Invalidation level is at 1220; as long this one holds trend is up.
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