Trading Room

Weekly Forex Analysis May 23 – 27, 2022 – Gold Mid-Term Opportunity and Supply Reaction to USD

May 23, 2022 | 5:28 pm | The 5%ers' Blog > Trading Room
May 23, 2022 | 5:28 pm
The 5%ers' Blog > Trading Room
Weekly Forex Analysis May 23 – 27, 2022 – Gold Mid-Term Opportunity and Supply Reaction to USD

The Dollar gives a leg back, giving some fresh air to all the other pairs such as EUR and JPY

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In today’s trading room, we reviewed the DXY after what we explained last week. After it overextended movement toward its yearly supply level, the Dollar gives a leg back, giving some fresh air to all the other pairs such as EUR and JPY.

The EURUSD may continue to the upside after getting some momentum around its decade demand zone at 1.04.

Finally, Gold respects the scenario we expected last week. Fundamentally, but also technically, Gold should attract more investors willing to hedge against inflation or sell-off in the capital markets.

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