AGAIN, will the USD weaken!? Watch for GOLD to REACH 30% RSI.
I am not sure whether is a good thing to settle your self for a LONG SELL position at this moment!
Since the weight of the USD on this pair is much greater in this pair I recommend a little patience, BUT we see a little divergence on the DAILY chart which that it will move a little bit to the down side. It depends on how strong will the down move be.
AGAIN, fundamental ANALYSIS show that the GOLD will VERY SOON start to move up and USD up for that respect.
EURUSD is is used here to show and follow the movement of the USD. You can also look at the USD Features and bonds but fundamental analysis as a whole are the key to the BEARISH or BULLISH outcome for this scenario.
RECOMENDATIONS: Maybe go for a shorter BUY but wait for a stronger confirmation that this will turn in to a strong BEARISH pattern.
KEY: WATCH for the GOLD to end this LOOOOONG move to the down side and closely follow the upcoming events. May be an announcement that US of A will lower the Interest Rates or keep it the same.
Comments are STRONGLY RECOMMENDED!
HAVE FUN and GOOD LUCK!
Since the weight of the USD on this pair is much greater in this pair I recommend a little patience, BUT we see a little divergence on the DAILY chart which that it will move a little bit to the down side. It depends on how strong will the down move be.
AGAIN, fundamental ANALYSIS show that the GOLD will VERY SOON start to move up and USD up for that respect.
EURUSD is is used here to show and follow the movement of the USD. You can also look at the USD Features and bonds but fundamental analysis as a whole are the key to the BEARISH or BULLISH outcome for this scenario.
RECOMENDATIONS: Maybe go for a shorter BUY but wait for a stronger confirmation that this will turn in to a strong BEARISH pattern.
KEY: WATCH for the GOLD to end this LOOOOONG move to the down side and closely follow the upcoming events. May be an announcement that US of A will lower the Interest Rates or keep it the same.
Comments are STRONGLY RECOMMENDED!
HAVE FUN and GOOD LUCK!