XAU/USD FORECAST: CLASSICAL CHARTING
This is the 4 Hour Chart of
XAUUSD
.
1 Hour Time Frame
A broadening wedge pattern has formed absent its higher high, and lower low to follow.
4 Hour Chart
A descending broadening wedge pattern has formed absent it's lower low.
SHORT
Forecasting a high around price 1754.00, which will be a prime opportunity to take a short position and ride the market all the way down to price 1680.00 - 1650.00 area.
LONG
Around price 1650.00 will be a prime opportunity to ride the market to a higher high price 1796.00 - 1900.00
XAUUSD
. 1 Hour Time Frame
A broadening wedge pattern has formed absent its higher high, and lower low to follow.
4 Hour Chart
A descending broadening wedge pattern has formed absent it's lower low.
SHORT
Forecasting a high around price 1754.00, which will be a prime opportunity to take a short position and ride the market all the way down to price 1680.00 - 1650.00 area.
LONG
Around price 1650.00 will be a prime opportunity to ride the market to a higher high price 1796.00 - 1900.00
Komen:
Gold price has been ranging. Forecast though, remains the same.