VRShaiju
Short

There is no excitement on gold

FX:XAUUSD   Gold/U.S. Dollar
505 4 15
I found NFP news spike on last Firday. The long waited bounce printed nice reversal doji candle on weekly 20ma. We bounced to 1330 in quick session, but unable to cross daily 20ma. All conditions are good to long? Are we?

No - it's a big no

We are entering to new bear trend in gold             till FOMC this month. Risking long before FOMC is a risk. We all aware that there won't be any rate hike this month. The probability of rate hike is only 24% in Sept, 27% in Nov, 44% in Dec this year. Precious metal is now under fear again. Fear drive the market. I see gold             below 1100 by end of this year. Good Luck with your trading :)
Cornhub
3 months ago
Agreed with your idea, this NFP data isn't a game changer, the fear of rate hike is still hanging above
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AdamHong
3 months ago
Why do you see goled below 1100 by the end of this year
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Viking83 PRO
3 months ago
Interesting. It did close above 50 daily EMA though. Could go both ways ;)
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18hrs
3 months ago
Nice chart work, good analysis of the technicals VRShaiju. I would have to disagree with you on below $1100 based on fundamentals however. Lower before FOMC?- absolutely, but NIRP, Eid/Diwali, and a host of other factors will see us close out 2016 much higher than where we are right now. Best of luck on the trading!
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