Gold (XAUUSD)Long
Gold Correction Coming to an end? The Road to $3,000.00
**KEY NOTES**
- Gold has experienced a 9% correction
- DXY is at the top of its current trend range at key resistance
- 1HR/4HR Falling wedge (With 3 downward drives)
Gold should catch support very soon for a push back up. I would expect when this happens we will see DXY start to retrace its current move also allowing gains on forex pairs against the USD. My key watches right now are the USD/CAD and GBP/USD
Bear Divergence present on larger DXY charts.
Starting to enter small positions as we could still move downward but I am starting to hunt the reversal. On the trend in the smaller time frames.
- Gold has experienced a 9% correction
- DXY is at the top of its current trend range at key resistance
- 1HR/4HR Falling wedge (With 3 downward drives)
Gold should catch support very soon for a push back up. I would expect when this happens we will see DXY start to retrace its current move also allowing gains on forex pairs against the USD. My key watches right now are the USD/CAD and GBP/USD
Bear Divergence present on larger DXY charts.
Starting to enter small positions as we could still move downward but I am starting to hunt the reversal. On the trend in the smaller time frames.
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