Gold’s technical charts show how the financial markets are preparing for the Friday’s fundamental events. The picture is even considered by the Dukascopy analysts a proper example of educational material for the books.
The rate recently reached the upper trend line of a massive long term ascending channel, where it was guided by a medium term ascending channel....
At the opening of the market this week we were originally expecting further downside on GBPUSD if the 1.29150 Friday lows got taken out. Since the market opening however we have formed a clear double-bottom, almost to the pip, at the 1.2915 level. A strong area of support has now formed in this zone between 1.2915 to 1.294 over the last week or so. With today's US...