Gold quickly cut the rally in this week despite of weak Dollar.
This is indeed a big problem.
With the third drop in row, XAUUSD sharps a Head and Shoulder pattern on the chart.
Gold now stands infimly on SMA50 and 23.6% Fib retracement of (1050-1275)
Any break of those key supports would send gold lower to next support : The Neckline of H & S pattern and even 38% Fib retracement level at 1190
Next week, we will have the answer whether Gold falls further or stop the correction to fuel next rally.
So we only watch three levels:
- SMA50
- Neckline of H & S pattern.
- 23.6% Fib Retracement.
---------------------------
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This is indeed a big problem.
With the third drop in row, XAUUSD sharps a Head and Shoulder pattern on the chart.
Gold now stands infimly on SMA50 and 23.6% Fib retracement of (1050-1275)
Any break of those key supports would send gold lower to next support : The Neckline of H & S pattern and even 38% Fib retracement level at 1190
Next week, we will have the answer whether Gold falls further or stop the correction to fuel next rally.
So we only watch three levels:
- SMA50
- Neckline of H & S pattern.
- 23.6% Fib Retracement.
---------------------------
Happly trading.
If you like my analysis, visit my page: facebook.com/trackingforexsignals
And my website :trackingforexsignals.com/
Free 1 month. You like, You subscribe.
More than 100 signal providers and +200 positions in Trading System. Track the best signals. No site has such feature around the world. Precise and Profitable.
- Trackingforexsignals - Think the right way.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.