We are approaching FOMC. We know there won't be any rate hike. We are going to enter month of August. Here is my thought.
Bears are brutal does not take time to erase your profit. We gonna stuck with 70$ swings for next three months before breakout.
We finish this bull move around 1284-96
If we go straight with out correction 1296 is the TP and Wait for trend reversal.
If we retrace and move up then 1284 is the channel resistance.
I believe gold is Short after FOMC swing upside. We get fresh bear candle after fully pumped July monthly candle
Since August US news will be stronger than expected which makes DXY bullish for new yearly High..! UJ should back up to 118 and continue higher through next year.
I should be a BUYER for time being with tight SL. Even after FOMC. TP 1284 and 1292 and 1296
I WOULD BE SURPRISE IF GOLD BACK TO REVERSE FROM MONDAY. :)
According to expectation the A wave should be finish @ 1284-96 region with plenty of surprise.
Bears are brutal does not take time to erase your profit. We gonna stuck with 70$ swings for next three months before breakout.
We finish this bull move around 1284-96
If we go straight with out correction 1296 is the TP and Wait for trend reversal.
If we retrace and move up then 1284 is the channel resistance.
I believe gold is Short after FOMC swing upside. We get fresh bear candle after fully pumped July monthly candle
Since August US news will be stronger than expected which makes DXY bullish for new yearly High..! UJ should back up to 118 and continue higher through next year.
I should be a BUYER for time being with tight SL. Even after FOMC. TP 1284 and 1292 and 1296
I WOULD BE SURPRISE IF GOLD BACK TO REVERSE FROM MONDAY. :)
According to expectation the A wave should be finish @ 1284-96 region with plenty of surprise.
I guess there will be a move after NFP