I beleive we're in a C wave of a correction.
The price of GOLD will eventually rise the coming days but it could fall again soon.
I think the USD is gaining some "short term value", a correction before it falls down again. If you look at my previous analys on the EUR/USD, I told there could be a correction soon, which results in the USD gaining some value against the EUR. We shall remember: Price moves in waves and not straight up or down.
Now the question is, when to buy GOLD? Well honestly I don't know when but I have some ideas where.
I will personally begin my long positions near 1815 and buying more until 1750 if it goes all the way. Now this could take a few weeks as it could take months if the price makeS horizontal moves.
But volatility is high, and people are ending their summer vacations without knowing if they will be able to go to work again, to pay their rent or loans etc..... That creats uncertainty which GOLD feeds on.
Good luck to you all!
The price of GOLD will eventually rise the coming days but it could fall again soon.
I think the USD is gaining some "short term value", a correction before it falls down again. If you look at my previous analys on the EUR/USD, I told there could be a correction soon, which results in the USD gaining some value against the EUR. We shall remember: Price moves in waves and not straight up or down.
Now the question is, when to buy GOLD? Well honestly I don't know when but I have some ideas where.
I will personally begin my long positions near 1815 and buying more until 1750 if it goes all the way. Now this could take a few weeks as it could take months if the price makeS horizontal moves.
But volatility is high, and people are ending their summer vacations without knowing if they will be able to go to work again, to pay their rent or loans etc..... That creats uncertainty which GOLD feeds on.
Good luck to you all!
Comment:
Entering the sell zone