The way the bullion is moving against the buck, basically, repeats the path of the Euro, as majority of traders prepare for a speech that will be delivered by Janet Yellen at 16:00 GMT.
Namely, the pair has entered into a short-term symmetrical triangle that continued narrowing down in parallel to the increasing anxiety related to the upcoming fundamental event. From a daily chart perspective, a breakout to the top seems a more likely scenario, as the bullion is expected to reach the upper boundary of a massive long-term ascending channel. But in any case, the further direction will depend solely on content of the above speech.
