THE BIG XAU SHORT! (part 2)Over last 2 weeks, the market has stopped responding to fundamentals which are showing a stronger labor market than the Fed is willing to tolerate; should have pushed XAU lower.
We're 2 weeks away from the next rate hike (February 1st) and we could see a correction in this time, especially if the market is expecting a less aggressive Fed. In that case, price will likely correct going into the hike and then explode higher on Feb 1-2.
With DXY & Yields moving higher, we're likely going to get this retest of 1900.
*NOTE: either the big short is in play right now or we will get a push higher towards 1960 before it occurs; one thing is for certain - price needs to correct going into Feb 1st rate hike
Foreacast
USD-CAD Bearish Bias! Sell!
Hello,Traders!
USD-CAD was trading along the
Rising support line but then a
Bearish breakout happened
Then the pair made a pullback
And a retest but now we are
Seeing a bearish reaction
So a move down
Is to be expected
Sell!
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