FullTimeTrader

GOLD/USDollar- Short or long? Hold longs!

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
1024 2 18
Some traders are concerned about their long positions because price is making a pullback. Some analysts suggests a strong decline also.

The best advisor is price. We can have find some clues looking at correlated pair GOLD/EURO.

My bias is very long on both, see related ideas.

Both are forming a similar structure. We can see GOLDEURO is in front now.
After a shallow pullback GoldEuro rallied. I expect the same scenario for GoldUSD. The catalyst could be next FOMC news.

My opinion: hold long positions long term!!

Regards.

my 1107 ,1156 trade still there ,SL 1155 ,waiting for long
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Very true. There is a load of room downward as the market looks to consolidate but overall the bulls will have their day. For now the price levels of 900 for gold/usd or even lower and 850 fo gold/eur maybe more real than ever. Bears are minting this market. Good tidings everyone.
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