XAU/USD GOLD
Updated
So coming off a brand new Peak formation , I'm looking for gold to continue to look more bearish as we're still in a brand new cycle. I do believe that we will see major movements based on what the federal reserve does with their interest rate hike expected in early December. The market is expecting a 50 basis point increase in interest rates, if the Fed goes higher than 50 basis points or lower it will definitely cause major moves to happen on gold but also on the dollar index and of course it'll impact the rest of the dollar pairs.
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So as you saw with the Fed Chair Powell hinting that Fed could begin to pivot and perhaps a lower then expected interest rate hike coming in DEC 14th .. cause the US Dollar to weaken and now we can confirm a reset has taken place ... So we are now looking for Buys ..
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