Gold under Buying pressure

Technical analysis: The Price-action was circling #2,052.80 psychological benchmark but not gaining more momentum as it seems that DX found the Support fractal. I cannot speculate how far or downwards Price-action can go fuelled by new market dynamics, only follow it Technically. And Technically, a #10-point Stop (moving the Stop-loss in Profits every #7 to #10 points) is acceptable Risk at the moment (under current market sentiment, as Buying near Ultimate Top’s zone is not advisable. Gold is approaching again the Higher High’s trendline of the Hourly 4 chart’s Volatility (on one of the strongest Intra-day mixed values since late October), slightly below Resistance zone which is an ideal Selling point (as I implement Selling every Top’s strategy when DX was testing #20-Year High’s). As discussed, unless #2,052.80 benchmark breaks, Price-action within is Neutral, leans to Bearish side more and suitable only for Sellers of the market. As expected Gold reacted to the DX losing strongly with every Hourly candle and broke through the Upper layer of the Rectangle, but current defense line poses as the strong Resistance which Naturally engaged Intra-day recovery on the currency. I will continue Selling of course (tight Stops) as long as DX is not Trading on disappointing numbers.


Fundamental analysis: Remember my remarks regarding financial crisis around the corner where I mentioned that ahead of every crisis, DX and Gold on huge gains, then Gold reverses into a Selling Medium-term leg, DX tests Higher High's extension (recent #20-Year High's). Then later on, when crisis is about to take place, DX loses strongly and Gold gains as a safe-haven ( fractal which is happening at the moment). So bottom line, this is undisputed Bullish trend and total Buying domination, however fortunately it won't last for long as Gold's Medium and Long-term remains critically Bearish


My position: Even though Gold invalidated #2,041.80 Resistance now turned to Support and DX recovered all losses and is Trading above the Hourly 4 chart's Resistance, Gold ignores the sequence and is currently testing #2,052.80 psychological benchmark. I choose not to Trade this and will comfortably remain on sidelines Highly satisfied with my Trading results. Those who decide to Trade this, anticipate PMI later on throughout the session and Trade accordingly.