XAU/USD Analysis - DXY Forecast & Trend Outlook
XAU/USD Analysis - DXY Forecast & Trend Outlook
At 8:30 PM tonight, there will be significant news impacting the USD. Just 5 minutes before the news release, I forecast that DXY will rise, and XAU/USD will drop sharply.
On the H1 and H4 charts, I expect a downward move, which will drive the D1 chart into a bearish phase tonight and into tomorrow. This downtrend on the D1 chart will likely continue through next week, although we may see minor upward corrections on the H1 and H4 timeframes. These corrections will provide opportunities to sell.
For D1 selling, caution is advised, as the market will soon begin to correct upward. It’s important not to hold positions for too long and focus on accumulating profits in the short term.
At 8:30 PM tonight, there will be significant news impacting the USD. Just 5 minutes before the news release, I forecast that DXY will rise, and XAU/USD will drop sharply.
On the H1 and H4 charts, I expect a downward move, which will drive the D1 chart into a bearish phase tonight and into tomorrow. This downtrend on the D1 chart will likely continue through next week, although we may see minor upward corrections on the H1 and H4 timeframes. These corrections will provide opportunities to sell.
For D1 selling, caution is advised, as the market will soon begin to correct upward. It’s important not to hold positions for too long and focus on accumulating profits in the short term.
The RainBow MG3 Indicator identifies trends, reference prices, wave start times, and trend endpoints while sending alerts to your personal Telegram. Join the RainBow MG3 community on Telegram: t.me/rainbowmg3
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.
The RainBow MG3 Indicator identifies trends, reference prices, wave start times, and trend endpoints while sending alerts to your personal Telegram. Join the RainBow MG3 community on Telegram: t.me/rainbowmg3
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.