XAU/USD Dilemma
Hi Traders!
As we have all seen, the yellow metal has been on a bullish mode with peaks going each time higher than the previous ones, the interesting fact here is that we all know the Gold has a negative correlation with DXY, and with the fall of DXY value, it led to the increase of this precious metal. The fed and FOMC meeting this week is also eyed by traders who seek to find the next move of Gold. The technical levels are also important in here, so it could either go up or down but the fact is where...? The meeting this week can give directions to Gold.
Good Luck
As we have all seen, the yellow metal has been on a bullish mode with peaks going each time higher than the previous ones, the interesting fact here is that we all know the Gold has a negative correlation with DXY, and with the fall of DXY value, it led to the increase of this precious metal. The fed and FOMC meeting this week is also eyed by traders who seek to find the next move of Gold. The technical levels are also important in here, so it could either go up or down but the fact is where...? The meeting this week can give directions to Gold.
Good Luck
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