Hello traders,
Thanks to the Elliott Waves analysis, I have discovered a BIG correction phase dating from the beginning of September 2011, and that we might be experiencing one of the last highs of the XAUUSD.
Even though I know we are in the situation of a war and that gold is taking a lot of value, i would say that it can be overvalued and therefore we could drop after attaining the 1985 dollar as a maximum objective and then drop HARD.
Additionally, next week will be the results of the Initial Jobless claim; Core CPI YY, NSA*; Core CPI MM, SA*; CPI MM, SA*; CPI YY, NSA*; and JOLTS Job Openings*.
Have a good weekend.
Thanks to the Elliott Waves analysis, I have discovered a BIG correction phase dating from the beginning of September 2011, and that we might be experiencing one of the last highs of the XAUUSD.
Even though I know we are in the situation of a war and that gold is taking a lot of value, i would say that it can be overvalued and therefore we could drop after attaining the 1985 dollar as a maximum objective and then drop HARD.
Additionally, next week will be the results of the Initial Jobless claim; Core CPI YY, NSA*; Core CPI MM, SA*; CPI MM, SA*; CPI YY, NSA*; and JOLTS Job Openings*.
Have a good weekend.
