XAUUSD - GOLD CURRENT SITUATION
- Today is a very important day for XAUUSD. This is due to the release of USD PCE DATA. So it's a very HIGH IMPACT NEWS. We need to be vigilant about that. So far, the US DATA received yesterday is slightly MIXED DATA received. Also, GDP was very bad at DATA. So GOLD got a good DEMAND.
- US10Y is currently at 2.84% LEVEL. The POSITIVE SENTIMENT for USD has also been very positive for DXY in the past. Now DXY seems to be a bit CORRECTION. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. Also, when we look at DXY, we have moved to DXY 103.07 LEVEL.
- GOLD PRICE is below 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.
- Currently the OVERALL MARKET is RISK ON. Also the STOKES are turning a bit GREEN. COMMODITIES RISK ON TONE is what gives us. So I'm trying to be a bit HIGH BEATA CURRENCIES BUY right now. Anyway VIX is getting a bit DOWN right now. Also BONDS PRICES show a slightly NEUTRAL BIAS. But BONDS SPREADS are getting GREEN. MARKET currently has a MARKET ENVIRONMENT with a NEUTRAL BIAS close to RISK ON.
- GOLD PRICE can be UP again before UP. So GOLD can definitely go back to 1891 LEVEL. After that you can definitely go up to GOLD price 1966 LEVEL.
- 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.
- US10Y is currently at 2.84% LEVEL. The POSITIVE SENTIMENT for USD has also been very positive for DXY in the past. Now DXY seems to be a bit CORRECTION. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. Also, when we look at DXY, we have moved to DXY 103.07 LEVEL.
- GOLD PRICE is below 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.
- Currently the OVERALL MARKET is RISK ON. Also the STOKES are turning a bit GREEN. COMMODITIES RISK ON TONE is what gives us. So I'm trying to be a bit HIGH BEATA CURRENCIES BUY right now. Anyway VIX is getting a bit DOWN right now. Also BONDS PRICES show a slightly NEUTRAL BIAS. But BONDS SPREADS are getting GREEN. MARKET currently has a MARKET ENVIRONMENT with a NEUTRAL BIAS close to RISK ON.
- GOLD PRICE can be UP again before UP. So GOLD can definitely go back to 1891 LEVEL. After that you can definitely go up to GOLD price 1966 LEVEL.
- 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.
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