Gold: Dollar considering a daily bearish engulfing candle

22 Haz 2022

I told u guys yesterday about a possible upswing ahead of Chair Powell. Which happened earlier today. Which clearly created M( or partial M cos of. The delay before formation) and trend retest on my 4h FXCM xauusd which I stopped uploading because of the complaint of the roughness. Gold still trading at the upswing zone with 1842-44 standing for the bears and 1834 standing for bulls. A firm resistance at 1834 won't be good for USD because it might send gold higher but I don't see gold going higher than 1847-53 near term any higher above 1853 will be out of hand. For now 1842-44 is a good selling opportunity to previous low 1823 where the pair next decision is likely to be made. Gold is already signalling a reversal signal on lower timeframe but very choppy. DXY likely to trade in green today after forming a mini triple tap with no trace of trend and retest of previous zone breakout same time which I see as a good trigger though sometimes gold don't give a shit. Dollar likely to outperform today amid DXY outlook but that's the worst market i can count on cos it is full of wonders