Looking at EMA lines, an EMA10-EMA25 cross is forming on daily chart with a nice double basing. Downtrend formation seems to be broken on the daily chart (not on the weekly yet) and price approaches EMA50 for the first time since 1300.
RSI is about to break 50 in upward direction. Stochastic is moving up with a strong return around 50. Momentum indicator is also pointing a rise.
So why not see a squeeze up to level 1220 to start an upward leg? Even maybe today…
with some positive datas regarding US economy in the pipe, personally I have some doubts about the Squeeeeze
CitRoN_RouGe
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@NicolasCoppens, US data not really inspiring lately. But you are right at one point: gold price is recently reacting only to USD strength, not any other risk factor.
Victor.Y.F
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Welcome back! World Cup?
CitRoN_RouGe
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@victor.Y.F, Oh non! This is My Cup at trade target point.