XAUUSD - GOLD CURRENT SITUATION
- US10Y is currently slightly down to 2.74% LEVEL. Like we said before, it was a little CORRECTION just like we thought. The POSITIVE SENTIMENT for USD has also been very positive for DXY in the past.
The POWER of USD is still very strong in GOLD. Now DXY has been DOWN very fast for the last few days. We look forward to hearing from DXY. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. Currently DXY is getting somewhat DOWN with MARKET RISK ON. Also, when we look at DXY, we have moved up to DXY 101.660 LEVEL.
- GOLD PRICE is currently moving above DYNAMIC S / R LEVELS. Most likely the GOLD PRICE will be SHORT TEEM UP in the future. GOLD SHORT TERM has a UP SIDE BIAS but may be more DOWN under the influence of DOLLAR in the future. So currently UP can be before SELL.
- Currently the OVERALL MARKET is RISK ON. STOCKS is currently displaying a GREEN SIDE BIAS. Also the VOLATILITY is getting a bit DOWN. Also COMMODITIES still shows a NEUTRAL BIAS. Currently there is only one RISK ON TONE in the market. Therefore, in the future, all currencies such as NZD CAD AUD can definitely be UP. Also JPY CHF can be DOWN.
- The GOLD PRICE can be UP again before DOWN until 1918 LEVEL. So GOLD is more likely to go back to the 1918 LEVEL. Then you can definitely DOWN GOLD price up to 1783 LEVEL. If the TREND LINE is BREAK, you can go up to GOLD 1765 LEVEL DXY or US10Y if there is a UP TREND again.
- However, the bigger picture will change if a new sentiment enters the market or the market takes a risk to strengthen the US dollar first.
The POWER of USD is still very strong in GOLD. Now DXY has been DOWN very fast for the last few days. We look forward to hearing from DXY. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. Currently DXY is getting somewhat DOWN with MARKET RISK ON. Also, when we look at DXY, we have moved up to DXY 101.660 LEVEL.
- GOLD PRICE is currently moving above DYNAMIC S / R LEVELS. Most likely the GOLD PRICE will be SHORT TEEM UP in the future. GOLD SHORT TERM has a UP SIDE BIAS but may be more DOWN under the influence of DOLLAR in the future. So currently UP can be before SELL.
- Currently the OVERALL MARKET is RISK ON. STOCKS is currently displaying a GREEN SIDE BIAS. Also the VOLATILITY is getting a bit DOWN. Also COMMODITIES still shows a NEUTRAL BIAS. Currently there is only one RISK ON TONE in the market. Therefore, in the future, all currencies such as NZD CAD AUD can definitely be UP. Also JPY CHF can be DOWN.
- The GOLD PRICE can be UP again before DOWN until 1918 LEVEL. So GOLD is more likely to go back to the 1918 LEVEL. Then you can definitely DOWN GOLD price up to 1783 LEVEL. If the TREND LINE is BREAK, you can go up to GOLD 1765 LEVEL DXY or US10Y if there is a UP TREND again.
- However, the bigger picture will change if a new sentiment enters the market or the market takes a risk to strengthen the US dollar first.
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.