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You have an up channel, but would be great if you post the monthly chart as well !!!
The Gold/US has inverse relationship, and looking at the forex charts I see the dollar is strengthen and gaining power, so although you have an up channel this might be a fib retracement on a monthly or weekly charts and the actual move might be down, I hate to build my trades bases on speculations but it’s looking good for the US this year.
This is a personal opinion, and I might be wrong
Some facts about the US dollar
- Largest Economic power in the world
- 40% of capital market assets from foreign investments
- 90% of all currency transactions involve the US dollar
- Gold and US dollar has inverse relationship
- Highly influenced by US Stock and Bond Market ( when the Bond and stock market of a country starts to heat up , that means more money flowing into that country which means strength of the country currency)
- Can be changed with the oil price ( inverse relationship)