There are many option that gold will move but pin point that need to look is 1. 2393 price area Situation 1: Continue to make double top (2415-2435) before pullback to 23xx area price Situation 2: Continue to 24xx price area and break ATH to create one more ATH price for gold this year... fyi gold this year we already have breakout ATH at 20xx - 21xx area price...
is there any chance to gold drop n complete the chart pattern? if gold break the current supply base at 2373 it will going up again to make new ATH if not this current pattern will take so many order at the floor price
REGARDING OF CURRENT MARKET IT HARD TO GOLD PUSH FORWARD DUE TO NON FACTOR THAT CAN LEAD GOLD PUSH MORE AND MORE HIGHEST TO BREAK CURRENT ATH. SO BASICALLY GOLD WILL PUSH TO LOWER PRICE TO MAKE -equilibrium price- in the market. My expectation gold will drop to 1935- 1910
The possibility that the European Central Bank may start lowering interest rates from around mid-2024 has been taken by markets as a sign that early moves are crucial. Although he stuck to statements from Davos that borrowing costs could be reduced from the summer, traders increased bets on a cut — pricing in a 90% chance of a reduction in April and 141 basis...
This is just my opinion on gold current movement... NFP will be everything point for temporary spike movement for today... Bull vs Bear
It looks like phase 1 & 2 is already complete and right now is bull to temporary take over to equilibrium the momentum of trend...
It looks like phase 1 for bear is complete and maybe will proceed with phase 2 Gold trend has change into Bear by slowly and steady so focus on where to sell untill it trip to 19xx done
For my view, Gold maybe will bounce back to 21xx In quarter 1 (Q1) before make a trip to 19xx due to equilibrium (balancing bear and bull)
According to news fro J powell speech that make uprising of USD currency status. This impact will make gold possibility to drop 1809 area or below on near future....before it bounce back to 1950 area
According to J Powell speech that make uprising the USD currency from yesterday it's was oppurtunity to buy right now....
This is my basic analysis on FCPO pair... On future the demand will be high that make this pair has a higher price (my predict price around 42xx) and maybe will create new ATH on 2024/2025