UsdJpy 0.26% is approaching outer band of its at 114.5.
My targets remain unchanged. I want to see 1348 before November ends
But, now u all see the meaninglessness of waiting one day for all this stupidity when it could have just done it right away. I guess i dont have much respect for markets in the end :)
DXY should be facing hard resistance on its 36 degree level from the low @ 94.87.
UJ approaching resistance too.
1. Gold will go down and bottom in December
2. Gold will produce a failed cycle
3. Gold will go to 1290-1300 before next leg down
4. Gold is in its intermediate decline
5. 2018 will be the year where gold makes a higher high
6. DXY will go to 96-97 because the IHS pattern is guaranteed
How many calls for new high in this year? I do.
"2017 is gonna be a consolidation year for gold"
"It's late in its Xth daily cycle, it will most likely roll over further"
"It's going down"
"Miners are telling the story"
"Miners are leading gold"
Did I forget any?
With more or less geopolitical risk than back then? Rally into next fomc to crush the bearish herd ;)
I know the whole world has learned themselves to put 3 letters on a chart and draw a 2 pointed trendline.
But that is not my expectation. Although its valid, I dont think that is the right look for a B wave at all. We'll seen soon enough :)
USDJPY need to make a descision soon and gold cannot move without stimulants.
1266.67 is as i have stated very many times a key important level for gold.
Yes, it is pointless to test things 1000 times, but its called consolidation or ranging market. The good news is that things speed up when markets have finally decided.
Touched the 61.8 fib of prev low and consolidates above downtrendline.
Very choppy indeed. I think that is caused by a 2 year cycle (the lower one famous for making rounded, boring bottoms) https://imgur.com/a/m6NZf