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  • Want to hear my thoughts on the US Dollar? Check out yesterday's recording with #AuzBiz hosted by @KaraOrdway on 'The Trade' We discussed a #USD index, Treasury yields, $USDJPY, $AUDUSD and $NZDUSD https://t.co/yxwquL1btp https://t.co/RtWjlN6kpv
  • Gold has plunged nearly 5% off the Monthly high with the sell-off now probing key weekly support here at 1738/47- looking for a pivot here with the Fed interest rate decision on tap. Get your $XAUUSD market update from @MBForex here:https://t.co/Vnxi41lETt https://t.co/FyZuHNzsU3
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY https://t.co/o2v6ibac3L
Gold Forecast Bullish, but This Factor Limits Our Enthusiasm

Gold Forecast Bullish, but This Factor Limits Our Enthusiasm

David Rodriguez, Head of Product
ssi_GOLD_body_Picture_12.png, Gold Forecast Bullish, but This Factor Limits Our Enthusiasm

GoldWe’re seeing evidence of a major turnaround in the US Dollar versus the Euroand Japanese Yen. Yet the same doesn’t extend to Gold as indecisive price action gives little reason to call for a larger turn.

Trade Implications – Gold: Retail forex traders remain almost exactly neutral Gold prices versus the US Dollar, and our Gold technical forecast remains cautiously bullish as long as the metal remains above $1317. Yet we’ll have to see a more substantive turn in sentiment to have a stronger trading bias through the foreseeable future.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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