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 may decline
2019-11-11 • Updated
Trade idea
SELL 1.0065; TP 0.9960; SL 1.0085
The USD had been a safe haven when it comes to the US-Sino trade war. However, the situation has changed: now investors worry that trade conflict will hurt the American economy more than expected and thus increase their bets for the Federal Reserve’s rate cut this year. As the CHF is considered as a stronger kind of safe haven, we propose a USD/CHF short trade.
The pair fell below the 50-day MA (1.0070) and the line connecting January and March lows. If it goes below the 100-day MA (1.0024), the target will lie at 0.9955 (200-day MA, 50-week MA, and the line connecting 2018 and 2019 lows).
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Trade Idea: Major Pairs - 28-12-2022
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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