XAUUSD - Fairly Neutral Bias
Just thought I'd post my idea - I think we are going to see a consolidation/range forming, with some false moves trapping retail long, then sweep the liquidity below the lows before moving on higher. Be interesting to see how this one plays out.
Reasons for bias:
There's a strong daily complex gap just above current price, I think price will at least show some signs of holding here.
Fundamentals, including COT report analysis are pointing towards the USD losing a little momentum over the next week of 2, which could support this temporary trap to the long side.
Reasons for bias:
There's a strong daily complex gap just above current price, I think price will at least show some signs of holding here.
Fundamentals, including COT report analysis are pointing towards the USD losing a little momentum over the next week of 2, which could support this temporary trap to the long side.
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