DLavrov
Short

Gold Head & Shoulders Pattern

FX:XAUUSD   Gold Spot / U.S. Dollar
The market gives a trend reversal signal. The Head & Shoulders chart pattern tells us that the uptrend is over and we should expect further downward movement. MACD and DMI confirm the market falling. Entry level can be at 1326.00 with stop orders above the right shoulder at 1352.00 level. Profit targets are 1300.00 and 1250.00 support levels.
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Guys? What do you think about dollars until end of the year? will it go down? cause i want to sell my apartment and it has to be in dollar. Thank you!
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shouldn't gold price go up if the spx goes down?!
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@red2000, No, because the dollar is ready to rally.
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red2000 MaeTheMultiplier
@MaeTheMultiplier, if people are selling stocks i assume they won't keep all the money in dollars. how much do you expect the dollar to rally? ex dollar vs euro?
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@red2000, Personally I see DXY rallying like 2-4% from the bottom. 5% being extreme in just a couple weeks. I just see it as a small correction that will push gold prices down and make them more attractive to enter long again. That's just my thought though.
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@red2000, Guys? What do you think about dollars until end of the year? will it go down? cause i want to sell my apartment and it has to be in dollar. Thank you!
Reply
red2000 ChristianGru
@ChristianGru, up if fed raises interest rates. and real estate down if spx goes down
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Thanks, brother! U have convinced me, if it breaks down to 1326 let's let it rip!! Good luck, have a good weekend.
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ChristianGru DatDudeDanny
@DatDudeDanny, Guys? What do you think about dollars until end of the year? will it go down? cause i want to sell my apartment and it has to be in dollar. Thank you!
Reply
DatDudeDanny ChristianGru
@ChristianGru, Dollar is strong, I am a real estate agent and properties are selling, people have money. The data is backing the dollar after NFP. That's why I like gold to the down side.
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