Hello Traders and Subscribers.... Thank you for taking your time out to check out my Precious Metal Idea out...
General Sentiment= #DXY has grown and heading towards a minor trendline that has served as resistance for the bullish correctional pattern which It just broke out from within price range of 101.62 I want to belief that this would take price to a MAJOR demand zone around $100 before the rebound, but economic events might act a good catalyst for the Bullish movement of US Dollar Index also. My hope is that price would go back to test it recent high around $105.00 if this happens
Technical Idea=== #XAUUSD broke out of a major falling trendline to the upside and seem to be trading towards a bearish structural pattern since price has just retested a major supply level, I am of the view that $I,852 is a very key level to watch as this might take price to the nearest resistance which could turn support around $1,822. A strong violation of that level might push price downward towards an horizontal resistance level which is the recent low $1,754.
General Sentiment= #DXY has grown and heading towards a minor trendline that has served as resistance for the bullish correctional pattern which It just broke out from within price range of 101.62 I want to belief that this would take price to a MAJOR demand zone around $100 before the rebound, but economic events might act a good catalyst for the Bullish movement of US Dollar Index also. My hope is that price would go back to test it recent high around $105.00 if this happens
Technical Idea=== #XAUUSD broke out of a major falling trendline to the upside and seem to be trading towards a bearish structural pattern since price has just retested a major supply level, I am of the view that $I,852 is a very key level to watch as this might take price to the nearest resistance which could turn support around $1,822. A strong violation of that level might push price downward towards an horizontal resistance level which is the recent low $1,754.
