- US Dollar weakness
- Gold is a precious metal and an important financial commo... More bullish run is still in play
In the last few months, What is price action in trading? Price action describes the ... More in gold has been erratic, to say the least, and the main reason is that if we look at the bigger picture we are trapped inside a big bull flag. But let’s talk about the US Dollar first.
The bullish pressure on the $DXY weakens as it failed to break above the previous high at 97.50 for a test at the big level: 97.70. Now it’s trading below 97.00 which in my opinion is a very big deal. Not only because of how weak this move looks but also because of how The term dovish generally describes an economic outlook towa... More the talks around the Greenback have been in the past weeks. Yesterday, Larry Kudlow (White House chief economic advisor) said that the Fed may not hike What is interest? In finance and trading, interest is a fe... More rates ‘in my lifetime’. In all fairness, the 71-year-old might no see another rate hike because of the change in hikes forecasts to mid-2020. But the same dovishness domains the Greenback talks.
Gold, on the other hand, has been pushing higher since it bottomed at $1160 in August 2018. After it peaked at 1346 it sharply declined by $66 before soaring again. These big swings in What are value stocks? A value company is a company that app... More action have created a bull flag where gold is trading at the moment. If we look at the $1310-$1282 range this is where What is price? The price is the measure of the value of good... More action is temporary ‘neutral’. Right now Gold has bounced from a big What is the trading volume? In trading, volume refers to t... More zone ($1292) and is aiming at a test of the previous highs ($1310). Should Gold break with the previous highs the What is a continuation pattern? A continuation pattern is ... More would be complete and we could be looking at the next real bull run in the precious metal.
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