My thoughts on XAUUSD (requested by one of our subs)
- Technical analysis: Recently, XAUUSD was in a uptrend after strong 1681-1675 demand zone was retested. Also, nice HHHL structure can be seen on the chart to confirm the uptrend.
- Fundamental analysis: China allowed banks to import 150 ton of gold worth $ 8.5 billion in April and May. This indicates that price of gold will increase.
Therefore, my bias for #GOLD is long
- Technical analysis: Recently, XAUUSD was in a uptrend after strong 1681-1675 demand zone was retested. Also, nice HHHL structure can be seen on the chart to confirm the uptrend.
- Fundamental analysis: China allowed banks to import 150 ton of gold worth $ 8.5 billion in April and May. This indicates that price of gold will increase.
Therefore, my bias for #GOLD is long