XAUUSD March 7 until 12th
Updated
XAUUSD
THE week will start with important news from the FED and US Government and more announcements shall come along the week.
Senate approval of the 1.9T USD COVID BILL shall shake the USD pairs this week. The bill has then objective to incentive jobs creation.
Biden's administration is vaccinating over 2 million amaerican's daily.
Systemic Risk is decreasing and we are seeing safe heavens being dumped by the market, such as bitcoin and GOLD.
DXY starts the week with a very strong momentum as well as the US10Y.
With all being said, I see a weekly price action range from 1708 - 1615 respecting a massive supply created above from the February and the 1st week of March gold's sell off (CHART)
Summary
Possible factors for shorting XAU against USD:
1) DXY:
2) US10Y:
Lets see how the market plays out this week,
safe trade to all!
THE week will start with important news from the FED and US Government and more announcements shall come along the week.
Senate approval of the 1.9T USD COVID BILL shall shake the USD pairs this week. The bill has then objective to incentive jobs creation.
Biden's administration is vaccinating over 2 million amaerican's daily.
Systemic Risk is decreasing and we are seeing safe heavens being dumped by the market, such as bitcoin and GOLD.
DXY starts the week with a very strong momentum as well as the US10Y.
With all being said, I see a weekly price action range from 1708 - 1615 respecting a massive supply created above from the February and the 1st week of March gold's sell off (CHART)
Summary
Possible factors for shorting XAU against USD:
1) DXY:
2) US10Y:
Lets see how the market plays out this week,
safe trade to all!
Note
PRICE ACTION TRADE MADE EASY MAKE U GET IT IN THE RIGHT DIRECTION!
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