XAUUSD (GOLD): Why I'm still Bullish...
Updated
Gold underpins the Chinese Yuan, it's underpinning the BRICS movement full-stop. Chinese economy is on the move...
Recently, despite USD strength, Gold has maintained a HL, and I now see a reverse H&S forming.
I expect FOMC to pause this week, and often FOMC is not the best for USD.
I believe Gold has been forming a bull flag (which I calculate has been broken out of and retested), rather than a reversal of the current movement, at the very least it will re-challenge the ascending channel it broke out of.
Gold seems ultra resilient despite dollar strength, a moment of dollar weakness (that I think we'll see this week) and I think it'll pump.
Recently, despite USD strength, Gold has maintained a HL, and I now see a reverse H&S forming.
I expect FOMC to pause this week, and often FOMC is not the best for USD.
I believe Gold has been forming a bull flag (which I calculate has been broken out of and retested), rather than a reversal of the current movement, at the very least it will re-challenge the ascending channel it broke out of.
Gold seems ultra resilient despite dollar strength, a moment of dollar weakness (that I think we'll see this week) and I think it'll pump.
Trade active
Now I think we're ready
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