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XAUUSD Each day Close to Figure out Upcoming Way | Forex Forecast for December 31, 2019




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XAUUSD proceeds to drive higher, but do prospective buyers have what it usually takes to get on the 2019 superior at 1550? Or is the metal in have to have of a pullback to start with? Enjoy today’s Forex forecast video clip to see wherever XAUUSD (gold) could possibly be going from here.

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XAUUSD (gold) proceeds to drive higher pursuing the December 23rd breakout previously mentioned the 1480 confluence of resistance.

I wrote about that breakout on December nineteenth and quite a few periods just before then.

The rally previously this year put together with this most up-to-date consolidation that carved a falling wedge seemed constructive.

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9 comments

  1. Thanks for stopping by! Subscribe here: http://bit.ly/2lTRJCh to be the first to watch new Forex videos, and leave your comment below. 🙂

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  2. Just joined this channel but just saw this really great this confirms my analysis thanks really great

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  3. Those red lines are for what

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  4. Great analysis Sir..! however noticed many time you never use weekly or monthly time frame as top-down analysis.. or Daily is good enough to go? As most people I see try to align all the time frame direction for a valid entry.

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  5. Hi Justin. Just came across your videos and like your content. However, how did you distinguish between a real vs false breakout? Can you do a video on that? Thanks 🙂

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  6. I am glad I found this channel. Thank you Justin for offering the best trading learning resource.

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  7. is gold heading higher or due for a pullback : Gold is going lower. Resistance is 1525. Of course it can break it temporarily on NewYear's opening , but overall gold has created a top similar to the top patter of 2011-2012 years. This "breakout" is a suckers rally you should short. With DXY going higher next decade gold only has one way: down. Deflation will predominate next decade and if you have any doubts look at USDJPY pair, the carry trade pair, the mother of all borrowings for speculative purposes. Analysing just gold (as single instrument) makes no sense in such a complex trading of global economic trends. You should build (from a number of instruments) an equation with its output being the direction of global economy: either deflation or inflation, and trade this trend.That's the only way to trade forex profitable.
    If you drew your channel back in Feb 2012 you would also have a breakout above the channel scenario. But no, it didn't happen. The only pattern that will invalidate bearish setup for gold is breaking above 1566. Current 1525 is a hell of a resistance, so if it breaks above it, that should be taken as a sign for another leg of inflation. But overall, according to USDJPY the deflationary trend started in July 2015, so we are probably 4 years in deflation now, and the only money who props this inflationary bubble is the money of investors, but not money of end-users, I mean business owners who invest in new businesses because they see a potential growth in the future.
    In short, the rise of gold was only due to central banks buying, but no retail-investor is buying gold in the same amount it was done in 2005-2008 years. If you check CoT report, the buying in gold stopped in August, since then no new contracts were opened. This is only has one meaning: gold is going lower.
    I am not looking to buy gold, I am short it. The profits can be huge, with gold dropping a low as 850 next year.

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  8. I saw many analyzes but your approach is great. As a beginner I am learning how you see the trend and Market.
    Thank you for your contributions

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  9. Ur great Justin Bennett

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