Gold rises; eyes on the $1,400 range as well [Ryuuji Satou]

Ryuuji Sato Profile

Sato Ryuuji. Born in 1968. After graduating from a U.S. university in 1993, he joined Genesis Corporation (later Oval Next Co., Ltd.) after a stint at a marketing company, and has since been involved in macroeconomic analysis, as well as writing analyst reports on FX, commodities, and stock markets, and trading. In 2010, he founded HC Square Co., Ltd., writing analyst reports and planning/publishing items such as the FOREX NOTE Currency Handbook, while also serving as a radio program caster related to investments. Individual trader. International Federation of Technical Analysts - Certified Technical Analyst. Main caster on Radio Nikkei's "The Money Doisato's Market Forecast" (Mondays 15:00–).

Official site：Ryuuji Sato Blog

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※This article is a reproduction/re-edition of a May 2019 issue of FX攻略.com. Please note that the market information written here may differ from the current market.

Gold Price Momentum Surpasses Expectations

Gold’s momentum shows no signs of stopping. Since October last year, the monthly chart has four consecutive bullish candles. By the time this report is released, there will likely be one more consecutive bullish candle. In January 2019 issue (written in October 2018), it was stated that a recovery to the $1,300 level was fully possible, and that level has already been breached, approaching $1,350. The pace has far surpassed my expectations. A recovery to the $1,400 range within the year is not a fantasy. Now, let us look at gold, which is entering an upward phase.