What lies ahead for gold?
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
USD/CHF can go lower
2019-11-11 • Updated
Trade idea
SELL 1.0000; TP 0.9955; SL 1.0015
USD/CHF is indecisive between 1.0025 and 0.9985, where it consolidated for 2 days. Still, it looks like the downtrend from last week’s highs is about to continue. If the pair breaks below the wedge seen on H4 and fall below the parity level, it will slide to 0.9985 and then be vulnerable to decline to 0.9955 (38.2% Fibo of the January-February advance, 100-day MA). On the upside, the advance above 1.0025 is needed to bring the pair up to 1.0050.
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Hello, my beautiful readers. This week, we continue our critically detailed look at the markets in hopes of getting profitable trading opportunities. As usual, I'll be starting with the DXY (US Dollar Index) since it holds considerable sway over the Major currency pairs.
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