Long XAUUSD late stage economic cycle inflation - trade war 3700
The last time the US tried to have a trade war was back in 2002 where the dollar fell dramatically. Late stage economic cycles are characterized by rampant inflation of industrial inputs and also gold as a hedge against inflation.
My target of around 3700 in the next few years seems insane. Yet, when compared to the last time this same political situation was present the relative % increase to what I'm proposing was less.
First MAJOR weekly resistance is 1450 as I use Fibonacci extensions quite a lot.
I WAS waiting for a more reasonable entry at 1300 but I believe I was wrong.
The last insane bull run starting in 2002 began with a golden cross of 50MA crossing 200ma on the weekly, this just happened a few weeks ago.
My target of around 3700 in the next few years seems insane. Yet, when compared to the last time this same political situation was present the relative % increase to what I'm proposing was less.
First MAJOR weekly resistance is 1450 as I use Fibonacci extensions quite a lot.
I WAS waiting for a more reasonable entry at 1300 but I believe I was wrong.
The last insane bull run starting in 2002 began with a golden cross of 50MA crossing 200ma on the weekly, this just happened a few weeks ago.