FUNTRADER-Vera
Long

XAUUSD:Wedge is coming and waiting for a shortterm bounce

FX:XAUUSD   Gold Spot / U.S. Dollar
331 3 12
Traders:

This is consolidation of gold             before big bomb next week.
Plan like this:
1.the begining days of next week, expecting gold             to test the downtrendline by double touching it from 1302 to 1316.
2.drop down from the top of the consolidation box to the bottom
3.bounce from 1302 to fibo 382 1321 or further to fibo 618 1333

Less is more!
Comment: Double test 1308
Comment:
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You think we will get 1260 before 1440 ?
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FUNTRADER-Vera showerreport
1440?
I dont know yet.
but we trade with trendline and RSI, hopefully those tools can show us in the near future.
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showerreport FUNTRADER-Vera
Actually, depending on FED decision the DXY would tank or sky rocket. FED is on a moral hazard, if they don't hike I think they will loose credibility and a consequence the dollar should go first stop to 91 and then to 85 and finally 80 (having ranges). If they hike they could send the DXY further upside but the reality is that neither the world economy nor the US economy can handle higher rates (because the dynamics of the business cycle are preatty weak). Furthemore the OPEC is reaching Algeria we the aim to sell an agreement which is bluff but it must be sealed and sold in order to don't to look for Febraury lows. What does you DXY graph says about the future? Thanks!
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