we can see huge volatility in this week amid G7 meeting and Yellen's likely dovish speech.
G7 could be interesting for DXY strength and we may test 96 for breakout or else we dive back to 92 factoring how Europe handles the Greece mess. I believe that DXY is still ranged between 96-92 and we may see double bottom before Potential breakout.
Yellen is more likely to give dovish statements inducing huge volatility in the market. In this process gold is likely to test crucial levels such as 1207 and 1200 which is long term technical support.
With look on chart I believe we are still in bullish Zone above 1250 and may see likely correction to 1237.5. Its also to note that 30s and 20s are very attractive buy setups for long term investors, so we may see more resistance to break such levels. Induced volatility may change the bull game.
Even though I am more bullish than bearish as consequent economic environment is huge mess. Target 1237.5 then towards 1353.
Trade Carefully. We may see huge turbulence ahead this week. Namaste.
Kommentera
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1237 breached, looks even more bearish. let see if it holds 31.
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breaches 1230, Next Stop 1222
Kommentera
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Returned from 1223, Back towards 37
Kommentera
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Breached 1220 and bounced back. This could be base of reversal. very much exact from yellow dotted line
Kommentera
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double bottom in progress @ 1219 seeking for retrace at least 1231-1236.
Kommentera
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Downtrends Continues. Violated few channels and Important Resistance. DXY induced Volatility. Break of 1205 could open 0.618 fib 1174 for test.
Kommentera
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Bounced Back from 1200. Longed at 1202 and 1200 Immediate target 1223 Extended Target 1253
Could touch Mid Bollinger band - 1253
and correct towards 1175 near to SMA 1163
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