XAU/USD
From the technical perspective, gold finds strong resistance at 1475-80 zone, given by the bearish downtrend channel and previous strong fib level. Now if gold breaks counter trend line, on retest of 1465 level we can start shorting.
From the fundamental perspective we are still waiting for the us-china trade war ending. If we will have the phase one settled once and for all, there will be a good start point on phase 2 which should drop the price of gold to the monthly fib level of 1405.
Out of the COT reports, 46% of longs held by the non-commercial hedge funds and institutions are still active and we should see the price drop given by their closings
If all Confluences are in our favor we expect the monthly target to be hit by february 2020.
From the technical perspective, gold finds strong resistance at 1475-80 zone, given by the bearish downtrend channel and previous strong fib level. Now if gold breaks counter trend line, on retest of 1465 level we can start shorting.
From the fundamental perspective we are still waiting for the us-china trade war ending. If we will have the phase one settled once and for all, there will be a good start point on phase 2 which should drop the price of gold to the monthly fib level of 1405.
Out of the COT reports, 46% of longs held by the non-commercial hedge funds and institutions are still active and we should see the price drop given by their closings
If all Confluences are in our favor we expect the monthly target to be hit by february 2020.