samlarb

Gold Forecast (27/04/20)

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
With USD set to weaken this weak in my opinion as a result of capital flows, caused by the fact there is a lot of USD news, I can see this leading to gold pushing back to 1730/40 to form a inverse head and shoulders on the 4H TF. Although this isn't usually a continuation pattern, in recent history these inverse H&S have formed several times, all being followed by a bullish rally. If this pattern does form it could be a good time to long with a final push to 1770-1800 looming. I am already in this trade with several positions from 1570 from my previous forecast on the 1st of April so lets see what happens.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.