Short Comment
Gold plunged today unlike I expected.
It succeeded in escaping from box-pattern finally.
Market's reaction to combination of Stances from Fed and ECB led to strong dollar.
Dollar Index is right before 95 now.
I update my target for Dollar Index now to 97 from 95 before.
Market is thinking that ECB is more dovish than expected, and Fed will raise their rate 2 times more in this year.
Even though Dovish stance of ECB isn't big shock, Market participants change their strategies smoothly and bet to strong USD.
I guess stronger-than-expected USD will give negative impact to the metal.
Escaping from box-pattern means that the metal start its trend.
I reverse my thought now and my first target for Gold is 1250.
Gold plunged today unlike I expected.
It succeeded in escaping from box-pattern finally.
Market's reaction to combination of Stances from Fed and ECB led to strong dollar.
Dollar Index is right before 95 now.
I update my target for Dollar Index now to 97 from 95 before.
Market is thinking that ECB is more dovish than expected, and Fed will raise their rate 2 times more in this year.
Even though Dovish stance of ECB isn't big shock, Market participants change their strategies smoothly and bet to strong USD.
I guess stronger-than-expected USD will give negative impact to the metal.
Escaping from box-pattern means that the metal start its trend.
I reverse my thought now and my first target for Gold is 1250.
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