Gold Forecast (March 10 2021): Wait for confirmation to BUY

All scenarios for the BUY round have been prepared by us all week earlier. And of course, those who BUY at the 1678 zone are profitable. I told you to take profit gradually and wait for the confirmation to make sure the bottom has been established. Then we start to BUY more.

Ok! Now are the forecasts of today's article.

Bearish Scenario: Retest at the 1680 or even deeper

The strong news related to the CPI figures and the 1,900 billion USD stimulus package being discussed in the House of Representatives will strongly affect the USD. No one knows whether this effect is good or bad, so we have a bearish scenario. However, with what the daily candlestick chart shows, the probability of a sharp drop is low.


So: For those who are holding to gain more profits, let’s take profit somewhere between 200 - 300 pips to be safe. Then wait for the signal.

Bullish Scenario: 172x - 173x and adjustment

Technically, we will have this price today or tomorrow. The confluence of supply-demand zone combines with the yellow trendline. There will be a downward adjustment. Hope it will be a small one.


Strong Bullish Scenario: 175x - 177x

I am waiting for this. If it happens, then with the BUY round I forecasted, we win 1000 pips. Is that right?


USD index

DXY responded. At the supply-demand confluence of the downtrend, a reversal candlestick pattern is created. The story now is that we wait for DXY to officially decrease for the Gold to RISE.