Still a good chance of a pull back before the pump. Be careful!
Hi Traders
I believe there is still a good chance of retesting the 1860s as a final capitulation before the continued macro up trend.
The price action inside the chart is forming an extended descending wedge rangebound between 1900-1970s which is in close correlation to the continuing uncertainty in the DXY. I predict a short term target of 1865 with a DXY target of 94.
Where will I be wrong? A technical break of 1975 XAUUSD along with a break of 92 in the DXY with follow through could imply the end of the sell off and rekindle buyer confidence.
I believe there is still a good chance of retesting the 1860s as a final capitulation before the continued macro up trend.
The price action inside the chart is forming an extended descending wedge rangebound between 1900-1970s which is in close correlation to the continuing uncertainty in the DXY. I predict a short term target of 1865 with a DXY target of 94.
Where will I be wrong? A technical break of 1975 XAUUSD along with a break of 92 in the DXY with follow through could imply the end of the sell off and rekindle buyer confidence.
Penafian
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