XAUUSD Long Term View

7 בינו׳ 2021

TECHNICAL :
My simple point of view for XAUUSD.
im personally assume that XAUUSD in D1 and Weekly timeframe are creating Bullish Flag.
Since the price are retraced at point 50.0 Fibonacci Retracement, and doesn't cross the bottom trendline, Price go Up again.
While price Going up again and again, prices break the TOP Trendline ( Flag Trendline )
So i put that broken trendline as a buyerzone.

My personal target price was at -27 Fibonacci points as TP 1, and -61.8 as TP 2.
Stoploss are inside the flag pattern at area 1850, it broke another trendline inside Flag Pattern Channel.
so when prices go down below 1850, i will switch to sell scheme.

FUNDAMENTAL :
By Democrats winning the Presidential Election, and Senate Election last day in georgia AT.
The DEMOCRATS Economy orientation is :
- STIMULUS CHECKS
- INTEREST RATES ARE UP
- TAXES GO HIGHER

" Why this fundamental so mean for XAUUSD/Gold Prices ?"
My simple stupid logic is
BIDEN are the president of America for 4 years ahead. so this is possible if the ecnomy are not fully recovered, or consiprationaly economy are back to reopen and COVID-19 Drama gone after GOLD reaching NEW ALL TIME HIGH.