XAUUSD has been seeing a huge massive buy pressure. Gold is an asset that is very tricky to short. When in doubt go long gold. Economically speaking, Gold is notorious for its safe haven status. When economy is struggling and scared, central banks rush towards safe haven assets such as Gold, CHF, JPY and so on.
Why do I say the economy is struggling?
Well, if we look at the US economy it is in chaos with the recent trade wars against pretty much everyone including its neighbors such as Canada and Mexico. The trade war is escalating into a bigger scale week after week and we haven't even witnessed the bigger impact, yet.
Euro has gained attraction due to the bond increase strengthening the Euro. This is due to many factors but one of the main factors is due to the escalating tension between Ukraine and Russia.
Why do I say the economy is struggling?
Well, if we look at the US economy it is in chaos with the recent trade wars against pretty much everyone including its neighbors such as Canada and Mexico. The trade war is escalating into a bigger scale week after week and we haven't even witnessed the bigger impact, yet.
Euro has gained attraction due to the bond increase strengthening the Euro. This is due to many factors but one of the main factors is due to the escalating tension between Ukraine and Russia.
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.
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.