Continuation of the previous idea, the price played out a corridor in a narrow range.
In the coming week, the trading instrument is likely to give a correction with which a long position will be opened.
The data from CoT gold reports reflects some bullishness, with a 3% increase in buyers. The continuation of this trend may contribute to the growth of prices for the precious metal.
Data from CoT reports on the dollar index (USDX) reflects the growth of bearish sentiment on the US currency. Traders in the last week have increased the reduction of the net position on the growth of the dollar. At the same time, the net position has become minimal over the past month and a half. Large funds increased dollar sales by 47% in a week. Continuation of this trend may contribute to the decline of the US currency.
As for these CoT reports, I believe they were worked out last week as part of the growth to the 1963 mark.
Based on my vision of the market, I can add the following, we are waiting for the "necessary" correction to the 1930 area and go long, until this moment we can try short to the same price point of 1930.
Entry into positions is carried out only when a confirming pattern is formed.
Dear friends, if you have any questions about the description, please write in the comments.
In the coming week, the trading instrument is likely to give a correction with which a long position will be opened.
The data from CoT gold reports reflects some bullishness, with a 3% increase in buyers. The continuation of this trend may contribute to the growth of prices for the precious metal.
Data from CoT reports on the dollar index (USDX) reflects the growth of bearish sentiment on the US currency. Traders in the last week have increased the reduction of the net position on the growth of the dollar. At the same time, the net position has become minimal over the past month and a half. Large funds increased dollar sales by 47% in a week. Continuation of this trend may contribute to the decline of the US currency.
As for these CoT reports, I believe they were worked out last week as part of the growth to the 1963 mark.
Based on my vision of the market, I can add the following, we are waiting for the "necessary" correction to the 1930 area and go long, until this moment we can try short to the same price point of 1930.
Entry into positions is carried out only when a confirming pattern is formed.
Dear friends, if you have any questions about the description, please write in the comments.
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