Ayooz

XAUUSD ANALYSIS - Fundamentals

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hello Traders!!!

Interesting markets we have seen after the FOMC minutes and briefing.

As we have anticipated a bearish trend based on structure, we also had an eye on the fundamentals to be sure we are trading in the right direction. for weeks to come we could be indefinitely bearish on the US economy ad this is why.

Inflation : is blazing in the US according to FEDs, it is well over the 2% range expected. The uncertainty of the duration of this rise in inflation is also a huge sentimental blow for the USD. for this 1st reason the USD might experience weakness over the coming weeks

Delta Variant (covid) : it is also certain this is an uncertain situation in the world and could cause school closure, loss of jobs, business closure etc. i need not mention the impact of the 1st wave of Covid on the USD. This also automatically makes me bearish on the USD

Tapering : finally there are no signs of tapering which also increases the bearish sentiments on the usd.

Technical Analysis : We have clearly smashed the range to the upside and also the long term trendline, this give room for a more robust push to the upside without any major resistance.

for trades
I am currently holding a long position from 1799 and i am holding, however i will be scaling and trailing my position(s). Wait for a retest for a re-entry to scale position. also be mindful of other news coming up, there could be spikes, so its important to give your trades room to breathe.

Do not consider this a financial advice. pls be responsible for your own trades.

Comments

Good
but it's going to retest back to 1,805 where is resistance
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