XAUUSD Potential Forecast | 15th March 2023
Fundamental Backdrop
1. Market sentiments has shifted bearish for the USD
2. With the ongoing Silicon Valley Bank crisis, USD has been very volatile and there has been plenty of fear with the USD.
3. This sets the path for further bearish pressure on the USD.
Technical Confluences
1. Extremely strong bullish pressure can be noticed on the GOLD chart.
2. Price has already came up >800 pips since the lows.
3. Previous bearish structure has all been shifted bullish.
4. Price can potentially break the previous high at 1959.6.
Idea
Anticipating price to form a new higher high at 1959.6.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. Market sentiments has shifted bearish for the USD
2. With the ongoing Silicon Valley Bank crisis, USD has been very volatile and there has been plenty of fear with the USD.
3. This sets the path for further bearish pressure on the USD.
Technical Confluences
1. Extremely strong bullish pressure can be noticed on the GOLD chart.
2. Price has already came up >800 pips since the lows.
3. Previous bearish structure has all been shifted bullish.
4. Price can potentially break the previous high at 1959.6.
Idea
Anticipating price to form a new higher high at 1959.6.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
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