Overall view on XAUUSD - June 15th's week

The IMF said the U.S. currency is overvalued by 6% to 12% based on near-term economic fundamentals. The dollar index, benchmarked against a basket of six currencies, fell 0.2% on that, boosting gold which is a contrarian trade to the dollar. In another hand, markets are currently pricing the odds of a quarter-point interest rate cut at 100% for the end of the month. With a constant daily traded volume and a price increase, odds of a bullish continuation.

Possible targets: 1440.000 (+1450$ per lot).

Advice: Stay bullish and buy lower points while we don't break down 1400.00.

Trade stängt: målet nått