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Gold Spot / U.S. Dollar

XAUUSD Next Move After 2 Years Sideway

By PakRT
  • XAUUSD was moving in corrective wave for almost 2 years.
  • Last bullish move coincided with an increase in volume.
  • Soon will touch first support at 1680 and could bounce upwards from this level.
  • Will take a closer look on fundamental as well such inflation / stagflation issues, recessions and fed % rate policy for further confirmation.
  • Because more hike on fed % rate could mean more downward correction to the next support at 1580.
  • And AFAIK some whales have moved their money into other hard asset other than fiat.
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PakRT
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