Gold still without a major move / No positions

Gold's general commentary: Despite Bearish candle sequence on DX (breaking the Support zone # -0.43%), not the best responses of Gold regarding both Bearish or Bullish accumulation (Xau-Usd Spot prices) as it was on (# +0.53%) Daily chart’s Price-action currently, answer to an Wednesday’s sessionm decline, as it should be considerably Lower (Technically, below #1,800.80 psychological barrier). Gold is still ignoring skyrocketing Yields and possible Cup and a Handle Medium-term formation, visible on Weekly (#1W) chart. Yesterday E.U. session delivered Higher opening, as the Price-action was pulling back on a steady rate towards the #1,862.80 Resistance. Things will get dangerous for Buyers if #1,852.80 - #1,848.80 level breaks once again, as the #1,827.80 has been untouched for more than #30 sessions. Gold was Trading within Lower High’s belt and practically, Double Bottom on Daily chart (W shaped) was the Support for the aggressive Buying run which is near completion. Again, I don’t see current Bullish bias as sustainable, but aswell on the other hand, Selling bias remains less possible which leaves me with no firm pattern to Trade by.



Technical analysis: These sessions are Fundamentally driven as I will remain on sidelines as engaging any kind of order at the moment is Technically not advisable. Traders are witnessing violent Volatility for #2-Week fractal currently. I will minimize all Trading activity until this Volatility leaves all market classes and reveal a major trend. The Price-action has achieved a temporary equilibrium on Hourly 4 chart, between #1,848.80 and #1,872.80 (roughly Gold is in Overbought waters) as it still un-balances the Technically Bearish dynamics of Short-term and the Bullish Fundamental "fear factor". By my calculations, DX - sole Fundamental driver behind Gold’s potential uptrend in continuation is losing it’s strength (directly affecting Gold markets), if Gold closes the session above #1,872.80 Resistance and does not open with a Bearish Gap fill, I will engage set of Selling orders towards #1,852.80 first, then if broken pursue #1,871.80 Lower High projection (throughout Monday's session). Regarding the NFP, i will stand by my rule that past #4 out of #4 readings had less or no impact on Gold, so from now on I will add no significance to NFP announcement unless it proves me otherwise. My practical suggestion for Short-term Traders is to remain on sidelines as current session will bring nothing but aggressive side swings without a major move, and monitor the market closing (taking action on early Monday's E.U. session).