XAU/USD (GOLD) BUY 12-23-21
On the monthly timeframe Gold has created a cup and handle pattern.
The Dollar has increased in value because of positive economic data today, however over the next year the value of the dollar is expected to go down in value which will inversely cause gold to rise.
I am waiting for price to break out of the resistance area of this handle and go for about 700 pips.
On a standard lot of gold (1.00) that would be ($70,000)
The Dollar has increased in value because of positive economic data today, however over the next year the value of the dollar is expected to go down in value which will inversely cause gold to rise.
I am waiting for price to break out of the resistance area of this handle and go for about 700 pips.
On a standard lot of gold (1.00) that would be ($70,000)
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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.