edwnjos99
Long

Both fundamentals and TA suggests good time to buy.

FX:XAUUSD   Gold Spot / U.S. Dollar
If you look at the fundamentals, its looking really good. As a hedge against our financial system, gold is in great demand amidst the trade war, us-iran tensions, fed rate cuts (suggesting imminent recession) etc.
Now if you look at the technicals, its also looking really good. We just broke a major long term resistance around 1380. With both TA and fundamentals, I think its highly unlikely for us to see 1380 or anywhere near there for a very long time. There might be a small pullback to 1400 but even that is unlikely in my opinion.

note: I deleted previous chart because i made a small mistake with the fib channel. Also I'm quite new to trading so make trades on your on risk.
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