XAUUSD Gold - What's to come next?Here's the reality of 2022 - Yields up, DXY up, Indices down and yes that even means crypto's down! This was all explained in my year ahead video. Linked Below
Why is this happening?
What an evening! We had the FOMC yesterday. Now as I stared on my last post regarding DXY - and I will explain further in this post Fed Hike expected March. This was displayed Q4 21 - Through the dot plot so for us professional traders the moves aren't surprising it's being priced in prior. Does this mean you've lost time for dollar bull run? NO! In trading there's always beautiful trade moves and this is why I am showing you GOLD - Where to next?
Technically we are within a bullish channel yet at support of the channel this area is a very key below 1810 area expected 1800 area to come into play being the 200 EMA. If not there could be a pull back as long as we don't go above 1830 areas - Bears are fully in control and I expect that pressure to continue short/medium term. I have had great opportunities being long DXY through various other products within swing and day trades and you can do the same! Search around and stick to your trade plan.
Key Tip: The trend is your friend, until it's broken.
Trade Safe,
Trade Journal
Trade closed: target reached
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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.
Disclaimer
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.