GOLD/USDollar- Short or long? Hold longs!
Some traders are concerned about their long positions because price is making a pullback. Some analysts suggests a strong decline also.
The best advisor is price. We can have find some clues looking at correlated pair GOLD/EURO.
My bias is very long on both, see related ideas.
Both are forming a similar structure. We can see GOLDEURO is in front now.
After a shallow pullback GoldEuro rallied. I expect the same scenario for GoldUSD. The catalyst could be next FOMC news.
My opinion: hold long positions long term!!
Regards.
The best advisor is price. We can have find some clues looking at correlated pair GOLD/EURO.
My bias is very long on both, see related ideas.
Both are forming a similar structure. We can see GOLDEURO is in front now.
After a shallow pullback GoldEuro rallied. I expect the same scenario for GoldUSD. The catalyst could be next FOMC news.
My opinion: hold long positions long term!!
Regards.
