fxtrader66

Gold Current Support andResistance

FX:XAUUSD   Gold / U.S. Dollar
362 13 1
Gold             is currently range bound. Levels to trade on a breakout of the range.

As I posted a few days back, I think gold             is in a wedge and could try to test the 1276/70 level for a long.

Also, as BM pointed out the other day this could be a H&S pattern, see link here to BM's chart
SHS on 60 min XAUUSD
Small H&S pattern. Chance for bears. Not confirmed yet
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alex.a Ryan Tyler
It is considered as a confirmed, the abnormal strength of USD. Really abnormality - Take a look at DXY.

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alex.a alex.a
ECB rate cuts!
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I have been expecting dollar strength for a while. The eurusd is in a cycle where imo cycle 9 is finishing and the euro could be heading towards parity with the usd in the next few yrs.
snapshot
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alex.a fxtrader66
at rate cut, Gold down due to DXY up and went up again due to EURO easy liquidity
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alex.a alex.a
Now, it is calming down... I should have known when I saw DXY up and what was going on Tokyo Market - They knew in advance -
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alex.a alex.a
I was asking around the abnormality of DXY without any reason. Aha - rate cut!
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alex.a alex.a
I mean without any answer - Aha ..
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alex.a alex.a
IT WAS THE RATE CUT ! !!! GAP UP WAS THE RATE CUT --- AHA - why I couldn't guess it - stupid -
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You do not know what the ecb is thinking, and its common for markets to give a fake out move. Now that you know the euro could be heading down look for an entry into the trend . this is what I would be looking at.
snapshot
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