Bears tried again on Friday but buyers stepped in and defended the low.
What's next?
If DXY can hold the price above Friday's low, it may set up a bounce.
The R/R is quite attractive. I will keep it on my radar for a potential trade tomorrow.
USD is creating a base just below H4 EMA9.
This is very important combination of candles. It's a setup that gives bulls hope for a bounce at least. A condition - bulls must step in NOW. Confirmation will come only when price closes above EMA 9.
As long as above 1990, Gold has a chance to attact 2015 level and next 2020 to 2025.
2020-2025 is a decent resistance, so for now it's hard to say what will happen next. Ideally, the price consolidates there for a while.
A lot depends on the dollar. Currently the DXY chart shows the possibility that the dollar will move into daily cycle low. However, it's still...
