Gold is currently in an uptrend channel, and Friday it touched the lower bound of the channel at the 76.4% fibo retrace. There is also a strong hidden bullish divergence of H1 & H4. My targets are the top of the channel (1489) which is also the 1.272 fibo extension, and TP 2 is 1499 which is the 1.618 fibo extension. I will take partial profit on TP1 and put a trailing stop at 1470 for TP2 for my other long.
agreed with you bro... as there will be no agreement on the trade wars... and china still have yet to make their big move yet...
as for US, the currency will drop.. thinking with the basic logics, US try to impose the same tarrif thing on venezuela, french(euro) and germany, etc..
normally in this kind of situation, the sell price without tarriff will be increased to cover up the loss on tarrif.. so if US gonna pull this shit to everybody, we will see money going out from US will be more than coming in .. maybe things got heaten up, the whole world except for their own allies will banned US products..
as for US, the currency will drop.. thinking with the basic logics, US try to impose the same tarrif thing on venezuela, french(euro) and germany, etc..
normally in this kind of situation, the sell price without tarriff will be increased to cover up the loss on tarrif.. so if US gonna pull this shit to everybody, we will see money going out from US will be more than coming in .. maybe things got heaten up, the whole world except for their own allies will banned US products..
just my 2cent.. correct me if im wrong..