XAUUSD PRE NY SETUP
Bias: BULLISH
Fundamentals: BULLISH
+Tensions between Russia & Ukraine.
+Traditional purpose of gold as an inflation hedge (*todays PPI figures at 13.30*)
+Still no action form FED to combat inflation: ranging from 25bps to 100 bps remains opinion dividing within US central bank.
Technical: BULLISH
+Looking to continue to play bullish market structure as no signs of exhaustion or fundamental catalyst to support sell bias.
+Pullback to 1852-1850.4
+Target 1876, 1883
Bias: BULLISH
Fundamentals: BULLISH
+Tensions between Russia & Ukraine.
+Traditional purpose of gold as an inflation hedge (*todays PPI figures at 13.30*)
+Still no action form FED to combat inflation: ranging from 25bps to 100 bps remains opinion dividing within US central bank.
Technical: BULLISH
+Looking to continue to play bullish market structure as no signs of exhaustion or fundamental catalyst to support sell bias.
+Pullback to 1852-1850.4
+Target 1876, 1883