Over last 2 weeks, the market has stopped responding to fundamentals which are showing a stronger labor market than the Fed is willing to tolerate; should have pushed XAU lower.
We're 2 weeks away from the next rate hike (February 1st) and we could see a correction in this time, especially if the market is expecting a less aggressive Fed. In that case, price will likely correct going into the hike and then explode higher on Feb 1-2.
With DXY & Yields moving higher, we're likely going to get this retest of 1900.
*NOTE: either the big short is in play right now or we will get a push higher towards 1960 before it occurs; one thing is for certain - price needs to correct going into Feb 1st rate hike
We're 2 weeks away from the next rate hike (February 1st) and we could see a correction in this time, especially if the market is expecting a less aggressive Fed. In that case, price will likely correct going into the hike and then explode higher on Feb 1-2.
With DXY & Yields moving higher, we're likely going to get this retest of 1900.
*NOTE: either the big short is in play right now or we will get a push higher towards 1960 before it occurs; one thing is for certain - price needs to correct going into Feb 1st rate hike
