2022!!! GOLD's Destiny, predictable or not?
Happy new year, everyone.
Although I'm not much of a talker, but I found it useful to share this idea with you in order to help you understand the ecosystem of the trading (mostly forex XAU traders.) in the upcoming year.
In a monthly view of the chart, you can find out that the century has faced big challenges and changes in terms of global economics. These changes all happened after the DOTCOM crisis. Following the break of the historic ATH of 870$ which was an outcome of the Afghanistan and Iraq war, we have two consecutive financial main events in 2008 and 2015; both addressing the unstoppable rise in liquidity volume as a consequence of the growth of international trades and GDP's.
You can read the upcoming contents in this profile about DXY , US10Y and SPX which will seek out any relation between them and GOLD.
Finding a strong historic support at 1000$ area was proven at late 2015s. After heading north for 2 and a half year from the 680$ area to the next top at 1920$, we can see a 0.618 fib level fall to 1000$ area.
You can see the relation between the volume profile and the price levels in my next post on XAUUSD here.
The next wave of heading north seems just like a retest of the 1920$ area's resistance during the global pandemic which I believe wasn't that confidential. Just like the time of breaking the 870$ area. If you know what I mean! ;)
At the moment of writing, a paradigm shift in fossil fuel consumption alongside with the events such as the increase of interest rates in 2022 are the most important things to watch for the prediction of the GOLD price levels. For now, I see 1300-1400$ area not too far; but I strongly suggest to consider this question seriously: (Does value buy you goods and services or not?!)
I'll help you this year with your trading with weekly updates and signals on different pairs.
Please, Follow me and leave comments. Gather around to see what's going on the next day.
Although I'm not much of a talker, but I found it useful to share this idea with you in order to help you understand the ecosystem of the trading (mostly forex XAU traders.) in the upcoming year.
In a monthly view of the chart, you can find out that the century has faced big challenges and changes in terms of global economics. These changes all happened after the DOTCOM crisis. Following the break of the historic ATH of 870$ which was an outcome of the Afghanistan and Iraq war, we have two consecutive financial main events in 2008 and 2015; both addressing the unstoppable rise in liquidity volume as a consequence of the growth of international trades and GDP's.
You can read the upcoming contents in this profile about DXY , US10Y and SPX which will seek out any relation between them and GOLD.
Finding a strong historic support at 1000$ area was proven at late 2015s. After heading north for 2 and a half year from the 680$ area to the next top at 1920$, we can see a 0.618 fib level fall to 1000$ area.
You can see the relation between the volume profile and the price levels in my next post on XAUUSD here.
The next wave of heading north seems just like a retest of the 1920$ area's resistance during the global pandemic which I believe wasn't that confidential. Just like the time of breaking the 870$ area. If you know what I mean! ;)
At the moment of writing, a paradigm shift in fossil fuel consumption alongside with the events such as the increase of interest rates in 2022 are the most important things to watch for the prediction of the GOLD price levels. For now, I see 1300-1400$ area not too far; but I strongly suggest to consider this question seriously: (Does value buy you goods and services or not?!)
I'll help you this year with your trading with weekly updates and signals on different pairs.
Please, Follow me and leave comments. Gather around to see what's going on the next day.
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.