Disliked{quote} You ask the same question that everyone dreams of hearing an accurate answer to: nobody can forecast the future. The best we can do is guess based on historical information at our disposal. That effectively means we are expecting a destiny of gold to be fulfilled based on historical behaviour in similar set of given circumstances. As an example, the past week has seen nearly everyone "predicting" that gold would collapse down to sub 1180 again. It's closer to 1280 than 1180.Ignored
I fully agree that nobody can forecast the future. I see the forecast as an educated guess/prediction by an analyst which is why I asked whether isn't it better to trade the actual data itself.
I do agree that prices respect historical data such as support and resistances (Technical Analysis). Also, it shows past price behaviour of the pair itself.
The biggest question I have is the direction of price from now until later in which I believe the Fundamental Analysis will tell me that. Then again, there are many ways to trade and I appreciate learning everything I can!!
Thank you for your advice! Hope to learn from you alot too !!
Regards,
-dric