XAU/USD (Gold): stuck in a range and unable to make progress...
In this video I am looking at:
current Gold (four-month) range, previous triangle formation and breakout, historic highs.
I will also look at the wider movements (trending and ranging) of Gold in the last fifteen years
to give you an eagle-eye's view of how far we have come. We are close to the previous all-time
high (2011) and this means that in nine years we have not really made significant progress.
A logarithmic chart looking back fifty years (courtesy of fxtop.com) shows how the kind of moves
experience by Gold in the first ten years of that range clearly dwarf anything that it is able to
offer at the moment. Perhaps it is a crowded trade and there any 'risk-off' rally has not been that
sustained.
Whatever happens, there is a lot of uncertainty about Gold's direction and in the short-term it seems
that a neutral stance is the best policy.
Francesco (FreeFX)
current Gold (four-month) range, previous triangle formation and breakout, historic highs.
I will also look at the wider movements (trending and ranging) of Gold in the last fifteen years
to give you an eagle-eye's view of how far we have come. We are close to the previous all-time
high (2011) and this means that in nine years we have not really made significant progress.
A logarithmic chart looking back fifty years (courtesy of fxtop.com) shows how the kind of moves
experience by Gold in the first ten years of that range clearly dwarf anything that it is able to
offer at the moment. Perhaps it is a crowded trade and there any 'risk-off' rally has not been that
sustained.
Whatever happens, there is a lot of uncertainty about Gold's direction and in the short-term it seems
that a neutral stance is the best policy.
Francesco (FreeFX)
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