XAUUSD So Strong
On the trading charts, XAUUSD and DXY are moving in opposite directions.
But recently, even though DXY pulled back to 100, XAUUSD didn’t drop. There are extra factors like geopolitical issues, but we're focusing on the technical side here.
Tech charts show that gold is still strong, just in a sideways move right now. It’s waiting for the dollar to pull back to a resistance level, which could be the time for XAUUSD to go up again.
I’ll keep an eye on the DXY around 102-103. When it hits that range.
But recently, even though DXY pulled back to 100, XAUUSD didn’t drop. There are extra factors like geopolitical issues, but we're focusing on the technical side here.
Tech charts show that gold is still strong, just in a sideways move right now. It’s waiting for the dollar to pull back to a resistance level, which could be the time for XAUUSD to go up again.
I’ll keep an eye on the DXY around 102-103. When it hits that range.
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.