We warned few months ago that USD strength will be unprecedented. Ain't over yet - 103s is just the beginning...
Gold - we are expecting a big drop first before it rises to over 1700s - 2200s by 2021(ish)...
Good luck and remain safe.
We expect USD to strengthen till end of this year. Instructions on map. This bull will not last for too long, catch it while you can! Our limited target on chart. Once our target hit we are looking for shorting it (Q1 '18).
Ps: Will add to #Gold longs soon ;)
For the longest time we have stressed price action and 20MA on this monthly chart. Long-term view is still long with short-term bearish bias to end by mid-to-end Fall of 2017. Keep an eye on price in relation to this moving average historically...let us know if you think it's a bearish or bullish trend, we love to hear your opinion.
Instructions on chart. Playing the 4hr range. Note the following levels:
1264s (61.8%) with indicators (4hr) at overbought state and potentially forming right shoulder!
1251s strong UP Trend line from previous structure, if broken price can cool off till DMAs (1246s) level. Below 1246s I'll consider scenarios for 1200/1180/1160 (medium probability at the...
Awaiting May's Fed meeting. We don't expect a change in policy, however, risk in Gold market due to Fed hinting June adjustment. We remain bullish and hunting to add long positions.
Daily support remains at 1259s (or DMA200 1254). Bulls need to break DMA20 for further bullish PA.
GL all, trade safe.