Hey tradomaniacs,
I`m currently waiting for the FED to give the market more fundamental impulses.
Looking at GOLD (XAU/USD) we can see a retest of the current trendline forming a potential rejection ad the monthly resistance.
Fundamentally GOLD can be very tricky as we dont know how the stocks react to a potential tapering.
A risk-off in stocks is actually good but at the same time it would mean that the market is going to price in highere interest-rates in the future, which is basically BAD for Gold as a "no-interest-asset".
Gold would become less attractive compared to interest-related assets such as bonds and other safe heavens which are attractive during a sell-off in equities.
On the other hand we could see rising stocks in different sectiors and with that hedges in GOLD.
However, technically we can see great opportunities on both sides.
Let`s see! :-)
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me
I`m currently waiting for the FED to give the market more fundamental impulses.
Looking at GOLD (XAU/USD) we can see a retest of the current trendline forming a potential rejection ad the monthly resistance.
Fundamentally GOLD can be very tricky as we dont know how the stocks react to a potential tapering.
A risk-off in stocks is actually good but at the same time it would mean that the market is going to price in highere interest-rates in the future, which is basically BAD for Gold as a "no-interest-asset".
Gold would become less attractive compared to interest-related assets such as bonds and other safe heavens which are attractive during a sell-off in equities.
On the other hand we could see rising stocks in different sectiors and with that hedges in GOLD.
However, technically we can see great opportunities on both sides.
Let`s see! :-)
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me