XAUUSD
Gold was supported yesterday on the miss in initial jobless claims. This reassures investors that the Fed, despite the FOMC minutes, will not think of hiking just yet. However, in a snapshot reaction the weak European PMI's have strengthened the USD once again as the DXY moves up to 93 again. The price is forming a symmetrical triangle pattern on the 4H chart, so expect buyers or sellers to go with a break. My preference is to go with a break to the upside if we see the dollar weaken. For now, that scenario is not on the table. However, the pattern is forming and one to keep under your hat for now.
