Fundamental side adding enormous Buying pressure on Gold

Gold's general commentary: Gold is extending the sideways action, following the continuation of the former Hourly 1 chart’s Ascending Channel, as Bond Yields and DX are Trading on huge gains for the #2nd straight session (DX comfortably Trading above the Hourly 4 chart’s Resistance zone and Bond Yields on spiral uptrend), current environment is not far away from Gold friendly (should spike upwards more) and as expected, Gold not only got rejected near #1,819.80 Support zone, printed miraculous recovery even though DX (strongest correlation at the moment) is comfortably Trading above the Resistance zone. Firstly, throughout Thursday’s session, Fundamental reading better than expected (which should spike DX upwards), pushed DX upwards then moments ahead totally on opposite side, without any firm reasons. Similar sequence on Core CPI announcement aftermath, from very own E.U. session, DX was soaring along with Yields, as I was expecting estimates better than the forecast on CPI. However, on the announcement aftermath, Gold recovered without any viable reason which I am in search for, and was Trading near Short-term Resistance zone. Besides heavy Selling Technicals (necessity for a correction) and Buying pressure from Fundamental side, full scale oscillation towards Lower Low's zone is once again postponed (but not invalidated).


Fundamental analysis and my Position: Gold is on current Buying spree (#7-sessions consecutive Buying run) due to the tension escalation on Ukraine - Russia front, where possible conflict news were revealed and had direct impact on the markets (late Friday's U.S. session), where Gold spiked up as well known flee to safety alternative (safe-haven asset). Gold is backed up Technically with emerging Golden Cross, where all possible planned corrections are now both Technically and Fundamentally limited. However, Buying Fundamentally driven sessions is dangerous approach, but in this situation I believe that current bias holds enough Bullish levels to push the Price-action above multi-Month rejection point of #1,866.80. I engaged Buying order with #1,853.80 as an entry point, Targeting #1,882.80 Higher High's extension. I will alter my order if #1,866.80 Resistance rejects the Price-action.