Its the time of the month when gold has started its recent rallies 2015-2018. Sell off after recent highs in my opinion is just a corrective move before gold is moving to even higher this year. Donald Trump said “We have a gentleman that loves quantitative tightening in the Fed. We have a gentleman that likes a very strong dollar in the Fed. So with all of those things — we want a strong dollar but let’s be reasonable — with all of that we’re doing great. Can you imagine if we left interest rates where they were? If we didn’t do quantitative tightening? I want a dollar that’s great for our country but not a dollar that’s prohibitive for us to be doing business with other countries.”
Referring that dollar is too valuable at its current price.
----------- Technicals--------------
There is Cup formed and this is the handle of it. Price js right now at 61.8 % Fibonacci level.
4th wave is in play which is known as corrective wave.
Price is at trendline where recent rallies has started.
I will take trade in these levels to get small risk.
However if price breaks the trendline and fib trade is invalid.
Cheers trade safely!
Referring that dollar is too valuable at its current price.
----------- Technicals--------------
There is Cup formed and this is the handle of it. Price js right now at 61.8 % Fibonacci level.
4th wave is in play which is known as corrective wave.
Price is at trendline where recent rallies has started.
I will take trade in these levels to get small risk.
However if price breaks the trendline and fib trade is invalid.
Cheers trade safely!