DXY is at support zone if 92.80 is key support . if DXY bount support zone it will go up to 95. gold monthly is overbought it will retrace upto 1780. that will be key level .
superfolex
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@gold12fx although i agree with you, fundamentally with the prospect of the stimulus coming in, DXY could weaken significantly. Printing money with no real or (net)economic growth would stir inflation expectation surge, even the initial US stimulus was much bigger than the Euro 750B stimulus given dxy has euros as a major basket of currency. Within an additional 1-3T USD coming in, we dont know where the bottom of the pit is, which may bring 92.8 an irrelevant support given the magnitude of the money supply. As much as id love to see a retracement to 1800, the only question is “When”?
Very important:
Hello guys
This is just a technical analysis and I believe gold is moving more on a fundamental basis these days. And I expect that technically gold will experience a correction between 1750 and 1860, which is the last chance to buy gold this year for the 2300 target. Therefore, in opening your positions, observe capital management. The price 1938 is a key number for a strong buy, derived from the key points of the Ichimoku strategy for low 1848. Gold seems to be experience the 1920 level again in this case. Therefore, it is excluded until the strong candle is fixed inside th box. Good luck.
Lisanjoku
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I think you have to wait for the price to retest the broken structure, because it’s oversold already. 🤷🏾♀️
gold12fx
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with no SL? 🙄
EAGLEIRI
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@gold12fx, hi
It depends on your capital management and risk-taking.