GOLD! (XAUUSD)
GUYS, we were mentioning yesterday that how USD is on the decline, and that a strong bounce to the upside is awaited, possible towards mid year. Baring this in mind lets not forget how GOLD and USD work in COALITION.
They are like Yin & Yang, like opposite sides to a magnet (-/+)
As we can see here on the chart GOLD is at a MAJOR SUPPORT LINE, this support line has proven to hold on many occasions thought out these years. There could well possibly be a fake break out and possibly not. Lets keep a close eye on price action and chart structure over the few days and weeks.
In my personal opinion unless there is a major war to break out between the super powers in the world, The gold will lean towards a down trend going side ways for a few weeks. If that is the case and no further upside movement then be prepared for a massive decline as the U.S. Dollar regains power again.
Thank you
P.S. Follow me on Instagram if you like my posts --> anonymousmoneymaker
They are like Yin & Yang, like opposite sides to a magnet (-/+)
As we can see here on the chart GOLD is at a MAJOR SUPPORT LINE, this support line has proven to hold on many occasions thought out these years. There could well possibly be a fake break out and possibly not. Lets keep a close eye on price action and chart structure over the few days and weeks.
In my personal opinion unless there is a major war to break out between the super powers in the world, The gold will lean towards a down trend going side ways for a few weeks. If that is the case and no further upside movement then be prepared for a massive decline as the U.S. Dollar regains power again.
Thank you
P.S. Follow me on Instagram if you like my posts --> anonymousmoneymaker
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