I'm hoping to see one of these scenarios playing out on this pair. As you know, this is a fundamental period for both of these pairs. It is very important to keep the ongoing fundamentals in mind as these events can move the market whichever way it wants. The fundamentals affecting these pairs may be a push in our favor and present an opportunity, or they may go...
I would like to see a swing buy on this pair, the first bullish candle has been printed pushing price back into the broken support, I would like to see the bulls push the price up again. My confirmation to enter this trade would be a retest of the trendline or a resistance zone. When this happens I will look to enter this trade keeping other fundamental...
The DXY has broken a major trendline, This could mean that the dollar is about to take a huge fall and GOLD is about to rally. However, it is important to keep in mind that any fundamental data, even an unexpected tweet from Trump can flip this entire scenario against us. I will be vigilant and watch out for more fundamental data that could make or break this.
On the DXY chart, we can see that price has broken a major trendline that has been forming since early 2018. If price continues down that will cause a huge gold rally that may even take out the previous highs. I will be watching price action on this metal alongside dollar fundamental data. Will the metal continue its rally?