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My perspective on XAUUSD next week

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
50 0 3
What a devastating week for bulls we had, huge dumping, fears, cheeseburgers, greed etc

But cheers folks, on 1D chart, we are seeing a sexy curvy bottom on MACD and a perfect indication on RSI . Every bullish or bearish moves need to have some retrace to be solid, so far, on daily chart , we ends up showing a bit green on Fryday.

So here's my opinion for next week, normally, gold             will give us a confirmation on 4H chart, double butt or double top , wait for a double bottom to be formed and buy in and targeting 1290ish. Besides, I always hear that Chinese are gonna buy it up, that may give bulls confidence as well.

Since last week the PA for gold             was a trend-changing move, I'm expecting another drop after the retrace, and expecting it hit 1220-1226 area.

Dollar is really strong right now, I guess Grandma is ready for a rate hike.

Cheers~
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