Get started

Goldelliotwave

XAUUSD - GOLD CURRENT SITUATION- As mentioned earlier, a very important event took place at the FOMC MEETING yesterday. The US Federal Reserve has increased their rates by 50bps. Before that there was some talk among the traders about it. So after raising their rates, the US dollar weakened. This is because the USD has been BUY in the past due to the sentiment of traders on the rates they are raising. Other economic indicator data released yesterday also remained weak. UNEMPLOYMENT CLAIMS DATA is due to be released for the US dollar today. - US10Y is currently down to 2.97% LEVEL. It was a CORRECTION just like we thought. The POSITIVE SENTIMENT for USD has also been very positive for DXY in the past. Now DXY seems to be a bit CORRECTION after FOMC. We look forward to hearing from you. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. Also when we look at DXY it has moved up to DXY 102.885 LEVEL. - GOLD PRICE is currently moving above DYNAMIC S / R LEVELS. Most likely the GOLD PRICE will be SHORT TEEM UP in the future. GOLD SHORT TERM has a UP SIDE BIAS. But currently GOLD can be SELL before UP. - Currently the OVERALL MARKET is RISK ON. STOCKS is currently displaying a GREEN SIDE BIAS. But American STOCKS are going down a bit. And VOLATILITY is DOWN. Also COMMODITIES still shows a UP SIDE BIAS. Currently there is only one RISK ON BIAS on the market. Therefore, in the future, all currencies such as NZD CAD AUD can definitely be UP. Also JPY CHF can be DOWN. - GOLD PRICE can be DOWN again before UP. So GOLD can go back to 1876 LEVEL. After that you can definitely go up to GOLD price 1966 LEVEL. If the RESISTANCE LINE is BREAK, GOLD can travel up to 1966 with a DXY or US10Y CORRECTION. - However, the bigger picture will change if a new sentiment enters the market or the market takes a risk to strengthen the US dollar first.
OANDA:XAUUSD
by benny_marshall