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ChopCityBanks
Sep 13, 2016 5:55 AM

XAUUSD Long - Bullish Divergence Long

Gold/U.S. DollarFXCM

Description

Technicals ( Bullish ) - Price has just tested Support zone and showing signs of bearish momentum, however the divergence provides confluence for a bullish move. Price is also bouncing off of the 0.618 Fib level, providing another confluence.

Fundamentals ( Bullish ) - Dovish comments on the USD from the Federal Reserve (Fed) weaken bullish power of the USD. Shown by morning star on daily time frame.
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