This is my short term Vision on XAU/USD based on daily
Macro-Economic Side:
Usd is appearing bearish based on VIX analysis. A Down Trendline look like it's confirming the downtrend there. But actually there is still some space for a bull retracement before USD go down. Plus, interest rate cuts are so close, but still not come. So my macroeconomic vision is based on a strong USD still for a bit. When the news is spoken so loud, you should do the opposite. So If USD is doing what I'm think, Xau is gonna dump for a while.
Technical-Analysis Side:
You can see in Daily timeframe the last candle have started to reject strong down trendline and the rising trendline is rejected too.
Then we have a structure based on weak demand and strong supply highs.
We can see a bull trap from the start of this week.
That's why I setted up few pending orders to get into the last test on 2050.
My entries are to 40 / 45 / 50 - My stoploss is at 61 - My takeprofit is at 2020
Usd is appearing bearish based on VIX analysis. A Down Trendline look like it's confirming the downtrend there. But actually there is still some space for a bull retracement before USD go down. Plus, interest rate cuts are so close, but still not come. So my macroeconomic vision is based on a strong USD still for a bit. When the news is spoken so loud, you should do the opposite. So If USD is doing what I'm think, Xau is gonna dump for a while.
Technical-Analysis Side:
You can see in Daily timeframe the last candle have started to reject strong down trendline and the rising trendline is rejected too.
Then we have a structure based on weak demand and strong supply highs.
We can see a bull trap from the start of this week.
That's why I setted up few pending orders to get into the last test on 2050.
My entries are to 40 / 45 / 50 - My stoploss is at 61 - My takeprofit is at 2020
But I'll start to take partials at 2020, following to 2000 and then get to tp