Previous week GU has weekly bullish engulfing, which will be overshadowed by bearish hangman close this week unfortunately. In order for bullish to continue next month, it has to close above the white dash line in order to have monthly bullish close (above 1.3350)
For now, I am slightly neutral to this, added with uncertainty in Brexit deals which makes it super volatile.
To maintain "neutral" weekly close. EU has to close above the white dashed-line and yellow fib line (approx 1.1315 and above) today. This is to negate bearish perception for this week.
I am remained bullish for EU (and GU for that matter) Big picture it is still showing bullish flag and it is supported.
Its very clear DXY is in rising wedge and it is about to close below the red line this week (hopefully). This is inline with my EU retracement of wednesday High. Keep looking to short DXY as per arrow once we have definitive 4H / 1D close below the TL.
We can try shorting DXY in this mid-point, as long as there is no 4H/1D bullish, it is safe.
I never expected that EU will drop this much following DXY rise. I am still inclined to weakness of DXY. Will long here with tight SL.
This is the breakout point of yesterday rally for EU. For GU, is too volatile because of Brexit uncertainty.
In D Chart, Gold is making huge bullish flag. And now we just touch down support zone. (Refer to my previous post)
Gold has to close above Red box zone for the week in order to show bullish formation, and break the upper TL to resume 13xx area.
Strategy 1: Short at red box zone if 4H shows bearish formation target green box zone or even lower.
Strategy 2: Long...
Gold chart, re-visited. Its a super long consolidation. Good thing is, it will move explosively either direction. I'm confident either 1350+ or lower 12xx area once it break the range. Bad thing is, we dunno when it will happen. I am as fustrated as you. But we have to wait.