The Hidden-Threat(s) To Gold-Trading During Friday!
So the economic-data seemed good today for the Gold-price. Initially, at commencement of NY session today (Thursday) the USDX came rallying off its 38.2% retracement. But it quickly quietened down & retreated even further and Gold was able to lift somewhat.
There are Heads 'N' Shoulders patterns that have formed on the USDX charts from 5m right up to 30m. See the charts & USDX on the left of screen. A rally to the neckline, a retrace and it could really move hard and fast during Friday.
What I also see is hidden divergence on the 15m and 240m Stochastic charts for Gold XAUUSD. This is probably not the main concern, it would be the USDX setting up for a rally very soon.
Lets see how it plays out.
