Mid-Long Term Outlook - XAUUSD / DXY
The chart analyses XAUUSD price action comparing it with the DXY.
Look at how the gold price reacts at key events and how the different correlations with the dollar index. It's pretty evident that gold keeps gaining even when DXY gets stronger, a clear indication of bullish movement.
Next week I believe we have crucial news that will push gold out of its consolidation phase into one of the two possible scenarios described on the chart.
Feel free to leave your comments...
Look at how the gold price reacts at key events and how the different correlations with the dollar index. It's pretty evident that gold keeps gaining even when DXY gets stronger, a clear indication of bullish movement.
Next week I believe we have crucial news that will push gold out of its consolidation phase into one of the two possible scenarios described on the chart.
Feel free to leave your comments...
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