Decided to make an update on my last plot of DXY from 24th Aug '17 (chart below).
So far, everything looks good!!
We are still in F -> G move I'm expecting price continue to move up until December 2017.
Reasons for that: in short-term Trump will announce new Fed chair, in long-term expectations of FED to hike rates by 25bp.
XAUUSD (gold) will trade in opposite direction as DXY, it means XAUUSD will move down until rate hikes.
Expecting XAUUSD to move strongly up next year, while DXY will go south G -> H move.
So far, everything looks good!!
We are still in F -> G move I'm expecting price continue to move up until December 2017.
Reasons for that: in short-term Trump will announce new Fed chair, in long-term expectations of FED to hike rates by 25bp.
XAUUSD (gold) will trade in opposite direction as DXY, it means XAUUSD will move down until rate hikes.
Expecting XAUUSD to move strongly up next year, while DXY will go south G -> H move.
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Let's wait for FOMC and interest hike! From that time DXY will go down and XAUUSD will move north.
Rate hike odds are 90-100% depending on website you check:
www.cmegroup.com/tra...ntdown-to-fomc.html/
uk.investing.com/cen...nks/fed-rate-monitor
Rate hike odds are 90-100% depending on website you check:
www.cmegroup.com/tra...ntdown-to-fomc.html/
uk.investing.com/cen...nks/fed-rate-monitor
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Everything is going on as expected, XAUUSD up and DXY down.
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