Bullish XAUUSD
Fed Rate's higher = gold increases while dollar deceases. (positive fundamental news)
Next to this we are seeing most likely a new break of structure from it's resistance.
If XAUUSD breaks above this a performs a retest in the zone we will see the price rise up to wards the fib level corresponding with the bigger previous swing high (resistance) also a key supply zone for sellers.
Both aspects positively confirm new potential bullishness in Gold.
SL below it's demand zone or swing low
TP 2.414 FIB LEVEL (to be safe I would set it just some PIPS below it)
- David van Delden
Fed Rate's higher = gold increases while dollar deceases. (positive fundamental news)
Next to this we are seeing most likely a new break of structure from it's resistance.
If XAUUSD breaks above this a performs a retest in the zone we will see the price rise up to wards the fib level corresponding with the bigger previous swing high (resistance) also a key supply zone for sellers.
Both aspects positively confirm new potential bullishness in Gold.
SL below it's demand zone or swing low
TP 2.414 FIB LEVEL (to be safe I would set it just some PIPS below it)
- David van Delden