On Thursday, XAUUSD prices fell for the second day in a row due to some follow-through USD purchasing.
The deteriorating global economic picture boosted the US dollar's standing as the world's reserve currency, undermining enthusiasm for dollar-denominated gold.
Technically the yellow metal was trending with 5 waves upwards within an ascending channel.
We expect a major correction (an A B C) downwards towards 1830 1850 area.
The deteriorating global economic picture boosted the US dollar's standing as the world's reserve currency, undermining enthusiasm for dollar-denominated gold.
Technically the yellow metal was trending with 5 waves upwards within an ascending channel.
We expect a major correction (an A B C) downwards towards 1830 1850 area.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.