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Gold XAUUSD Bull Flag ahead of FOMC dataGold: XAUUSD This is interesting - it isn't a crypto - it's gold but it's making a familiar pattern with just 25 minutes to go to FOMC data release...it can go to the upper parallel and fail which mean dollar strength and it can can do what seems to be predicting...a bull flag with 2 strikes on the lower parallel = hot, still even at these levels - which in turn means dollar/DXY cold, still, even at these low levels. Admit to being wary of whipsaw in the minutes following the data so want to stand clear and wait for the dust to settle - which may be quickly ....but it will be interesting to see if this develops as the flag is currently suggesting it will. If so gold will likely revisit the highs - but it's as if it's primed - is it a trap?...let's see
FX:XAUUSD
by sumastardon