Pashabxl

XAUUSD: Toward a little correction upside before breaking bad

FX:XAUUSD   Gold Spot / U.S. Dollar
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There is no surprise in the trend of GOLD             . For those who follow closely my analysis, there isn't yet an environment where GOLD             may have a perspective of growth.
Since FED and ECB as well as BoJ have lowered there interest rate, there is not yet a room to see a growing GOLD             .
From time to time, when the market is exaggerating the move, there may be an upside correction as it is for the time being. But on the medium term, and until ECB FED BoJ BoE increase there interest rate, or in a case of a serious inflation risk, GOLD             may continue its path towards 1180 and even lower.
On a short term basis, there may be a little correction on the upside, but this is just to balance the oversold situation
For the upside correction, I do not anticipate anything further then 1260 at the moment, on the extension 1280 but I am even doubtful on the extension at the moment because of the interest rate and the inflation target. The upside may very much be a correction unless FED declare an clear schedule for interestrate increase
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as u said on a short term basis,there may be a little correction on the upside: so what will be this upside target?and until when u waiting this..
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