XAUUSD Potential Outcomes....
Price is sitting in a strong daily supply zone and is breaking structure to the downside on the LTF,
However the USD is still falling giving gold strength, because of rising inflation this could push Gold higher and if gold breaks the daily demand I will be then looking for retest and buys.
Normally this would be a high probability set up for a sell but because of the situation with the USD anything can happen, as you saw the other day, so right now I'm sitting back and waiting for golds next move.
(We also have USD news today)
Whats your thoughts?
Price is sitting in a strong daily supply zone and is breaking structure to the downside on the LTF,
However the USD is still falling giving gold strength, because of rising inflation this could push Gold higher and if gold breaks the daily demand I will be then looking for retest and buys.
Normally this would be a high probability set up for a sell but because of the situation with the USD anything can happen, as you saw the other day, so right now I'm sitting back and waiting for golds next move.
(We also have USD news today)
Whats your thoughts?