XAUUSD followed our prediction perfectly and dipped lower into the 1800s which we have been expecting for a while now. XAUUSD can dip further from here and with the FED HIKE RATE only 3 days away with anticipated 50 bias points a crash can be expected. Dipping will be hard and low to have a quick pullback from the bullish move which has been taking place for many months. DXY will influence gold but DXY seemed to be priced in for the hike rate so it should fall after the dust has settled and XAUUSD should rise again.
With a global recession around the corner a perfect chance to buy the asset could present itself. My long term target and new ATH is 2183-87. I will be looking to trade after the hike rate once the dust has settled.
Make sure you're using the link below to follow us closely!
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.