DAY FORECAST on XAUUSD
Updated
Red line : short position target
Green line: : Long position target
As the Head& shoulders pattern has broken, and gold are very strong compared with DXY ; i believe first it will reach the upper side of the down-trend in short-term, around 1310;
However, the most of the technical signal shows overbuy on day chart, it may not have enough power to break out.
From the point of view of a "Big investor", Usually the market will surprise all the small investors...
Most of us are focus on the head& shoulders pattern; and we all know this pattern fail...
however..it doesn't means that the gold wouldn't appear a fake drop and go up..
Personally i think the chance of gold moving to green line is higher.
Green line: : Long position target
As the Head& shoulders pattern has broken, and gold are very strong compared with DXY ; i believe first it will reach the upper side of the down-trend in short-term, around 1310;
However, the most of the technical signal shows overbuy on day chart, it may not have enough power to break out.
From the point of view of a "Big investor", Usually the market will surprise all the small investors...
Most of us are focus on the head& shoulders pattern; and we all know this pattern fail...
however..it doesn't means that the gold wouldn't appear a fake drop and go up..
Personally i think the chance of gold moving to green line is higher.
Note
tonight is the meeting minuets of Fed meetings ....beware of fake breakout go up on 1312...Note
moving to target around 1260. (green line up channel), a long-term drop is most likely will be happened (Red line)Note
A short will be placed if the gold bounce back to the bottom of the head&shoulder (Around 1285)Note
moving to target 1349.
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