Gold has really been taking a toll with all the interest rate increased this year. We got another 75bps last night, and a very hawkish statement following the decision. I have been bareish on gold for a while now, adding positions to short. As long as the FED stick to their 'Higher for Longer' statement I cant see the Bulls taking gold any higher. There is a lot...
The Order Block has been hit and I am looking for gold to hit this weeks low, maybe lower? 1600 still in sight. if the bears are still in control do we see 1560 at a massive support level?
Here is my latest analysis after a month break from the charts and relaxing in Thailand!
Gold is extremely bearish at the moment due to the rise in interest rates making gold not a particularly ideal investment as it yields no interest.
I am expecting a strong decline in price from the OB or the Golden zone (Between the 0.5 & 0.618 retracement). Will keep an eye...
Ive been bareish on gold since 1800, Just updating my latest positions on gold, still have huge probability to move down to 1700.
Let me know your thoughts.
Looks like GBP/USD has rejected at R2, leading towards the 50 SMA. If the 50 SMA is crossed we will be in a sellers market.
However Biden has now won the Election who will be given out a generous stimulus check. So we will wait to see how this will affect this pair.
