At the end of last year GOLD was decreasing in price amid a strong dollar and the growing popularity of cryptocurrencies. But in mid-December the situation began to change: Bitcoin's rapid growth is over and the dollar became vulnerable and less attractive for investors. Therefore, there has formed a rapid upward trend that has all chances for continuation.
The dollar this year is decreasing against most currencies due to economic and political uncertainty in the United States. It is unclear what monetary policy the Federal Reserve will choose, given the unconvincing economic statistics. At the same time, investors are confident that it will be fairly soft, given that the new FED Chairman is a supporter of the soft and cautious monetary policy. In addition, investors fear that global growth will exceed the growth of the US economy, which is also not in favor of a strong dollar. Thus, the U.S. dollar became cheaper, even when the markets in the United States were closed for holidays.
The dollar still can strengthen in case the economic statistics in general turn out positive. In the near future the most effective may be the deals to SELL. The MACD and Stochastics oscillators confirm the efficiency of the short deals. At the same time, in the medium term, the deals on the trend can also be effective.
