XAU/USD - Update 1 : The Only Way is Up > 2000
After the breakout of the wedge and the overbought price conditions its time for gold to have a little nap before the marathon to 2000 hehe! Personally i think the only way is up...for now anyways! If not the FOMC the NFP will certainly be the deciding factor in this short term trend perspective and whether they help add to the confluence of the bulls or bears.
I reckon over the next few days before FOMC we are going to let the bears stack up on positions and help level out the price action playing field before the storm of volatility comes early midweek to put the ball back into the bulls field to for a home run to 2000.
January / February 2022 we saw the same style bull run up-to the near ATH. Will it happen again?
I reckon over the next few days before FOMC we are going to let the bears stack up on positions and help level out the price action playing field before the storm of volatility comes early midweek to put the ball back into the bulls field to for a home run to 2000.
January / February 2022 we saw the same style bull run up-to the near ATH. Will it happen again?
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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.