Gold XAUUSD Bull Flag ahead of FOMC data
Gold: XAUUSD This is interesting - it isn't a crypto - it's gold but it's making a
familiar pattern with just 25 minutes to go to FOMC data
release...it can go to the upper parallel and fail which mean
dollar strength and it can can do what seems to be
predicting...a bull flag with 2 strikes on the lower parallel =
hot, still even at these levels - which in turn means
dollar/DXY cold, still, even at these low levels. Admit to
being wary of whipsaw in the minutes following the data so
want to stand clear and wait for the dust to settle - which
may be quickly ....but it will be interesting to see if this
develops as the flag is currently suggesting it will. If so gold
will likely revisit the highs - but it's as if it's primed
- is it a trap?...let's see
familiar pattern with just 25 minutes to go to FOMC data
release...it can go to the upper parallel and fail which mean
dollar strength and it can can do what seems to be
predicting...a bull flag with 2 strikes on the lower parallel =
hot, still even at these levels - which in turn means
dollar/DXY cold, still, even at these low levels. Admit to
being wary of whipsaw in the minutes following the data so
want to stand clear and wait for the dust to settle - which
may be quickly ....but it will be interesting to see if this
develops as the flag is currently suggesting it will. If so gold
will likely revisit the highs - but it's as if it's primed
- is it a trap?...let's see
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