Gold (XAUUSD) Price Forecast: Gold Breakout Clears 200-Day MA as Dollar Falls - FXEmpire
Gold (XAUUSD) Price Forecast: Gold Breakout Clears 200-Day MA as Dollar Falls - FXEmpire
Source: FXEmpire
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DW NOTE
Gold breaking its 200-day moving average while the dollar weakens is technical noise pretending to be signal. The metal is up 4.85% this week because the Strait of Hormuz has been shut for 129 days and Russian missiles are still landing on apartment blocks in Kyiv — it has nothing to do with chart patterns and everything to do with the world being materially less stable than it was six months ago.