The short term story for Gold is reflecting similar to EURUSD, and bullish scenario prevails. As we have been discussing earlier, please keep the bigger picture in view which is suggesting that the yellow metal could well be on its way towards $1250/70 levels going forward. For immediate short term, we would like to present an alternate wave count if prices unable to break higher consistently above $1216 levels. If the latter holds well, we could see a flat Wave B unfolding, and Gold could drop lower again to $1188 levels before resuming its rally.
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This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.