Gold has reached its Elliott channel therefore the 4th wave correction may begin soon. Support comes in at 1815/40.
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Gold has reached its Elliott channel therefore the 4th wave correction may begin soon. Support comes in at 1815/40.
the gold and as we can see from the chart is trading under level 1890.00 , so , that's mean the down trend is still standing and the pair might head to 1880.00 and then 1870.00 how ever the pair made any hourly correction
4th wave correction is expected to begin and bring price back to 1815 or so before the final high is put in above 1900. 1900 has already been exceeded so respect the potential for a more important high to form.
the pair and as we can see from the chart has closed it's daily candle under the level of 1860.00 , so , that's mean the down trend is still standing and the pair is heading to 1840.00 then 1820.00
I expect impairment of gold to support the diagonal line upward trend in the area around 1770. When there is divergence MACD, RSI indicators also signal a decline after he left the area over purchases overcame the quotation and the support of the MA50. Indicators signals for shorts.
the pair and as we can see from the chart has closed it's daily candle under the level of 1770.00 , so , that's mean the down trend is still standing and the pair is heading to 1760.00 then 1750.00
XAU/USD continues to be on traders radars. The massive $180 drop over the past few days has many skittish. The metal was able to tack on a limited amount, but nothing near a definable rally
It is going to drop for some time but as there is a lot of insecurity in currency market i personally am of the opnion that Gold is a safe heaven for right now and it is going be till the time currency markets don't recover
It is more likely to go up to around 1760 than 1800, and after that, it might have potentially to go down.
If a M15 close above 1800 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1765 sell only and do not buy. If price closes back above it again do nothing
The range 1800 and 1765 is neutral area, any trade done in between is personal decision and not part of this analysis