XAUUSD Daily is still in the range of fair price currently, but it seems the rising interest rates is seeing money leave to other assets, the upper boundary of the VRVP has been tested twice now and a strong double rejection, So have my eyes on the low at $1680, this level has lots of liquidity now, and if price breaks this level numerous stop losses are going to be triggered, how do you close a long position? by selling so this can create volatility as price breaks the boundary of VRVP, we have seen XAU rise like wildfire under the high inflation environment, the real question is, is this price fair when we head into an interest rate phase of progressively higher rates, and In my opinion it is not, if $1680 goes we see we have very limited market orders all the way back down to $1200/$1300 and as a long term target I believe this is likely to be the final destination as Inflation is countered by strong rates.
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Free Fallin'
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Dont know why this trade ^ only got 4 likes! Over 750 pips given away for 4 likes!
