XAUUSD Long, Market sentiment is low, but fighting % hikes
This may perhaps be an optimistic prediction, but I feel that the looming uncertainty in the market is predominantly low, this should drive GOLD as a safe haven hedge. That being said, the predicted rate hikes coming this week are certainly a negative for GOLD futures adding artificial faith in the dollar. It will ultimately be a balance of the scales, we are most likely going to officially announce a recession, but as i said, hike rates too late to make a difference.
Overall sentiment, is LONG, near term could go either way.
Overall sentiment, is LONG, near term could go either way.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.