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Where is The Gold Price Going? XAUUSD Analysis by GBMWatch the full video analysis here: www.youtube.com So the big question many of my clients have been asking is, where is the gold price going? Well contrary to popular belief, I believe that we may see a strong move to the downside before we see gains in the price again. There has been a structure break to the downside on the daily time frame, after a 3 wave completion: There has been a repeat of this on the 4hr chart: I entered the short on a smaller 1hr flag break and have set a target based on the initial impulse of the current 3 wave move on the daily time frame. At that level I will wait for confirmation of either a continuation to the downside or a trend change. You can watch the full video analysis here: www.youtube.com Happy trading!
FX_IDC:XAUUSDShort
by Linton_White
EURJPY: Rejected from support levelOn the chart, we can see some support and resistance level for this pair. On 28 December, we saw rejection from 123.20 level. This pair is still on bearish momentum since yesterday. On the resistance level, we saw evening star on h4. We can expect more bearish movement on this pair. Now 121.65 level is acting as support for this pair. If this pair can break this level, we can expect 60-70 pips fall towards another support level at 120.92. Overall, we can stay on sell mode from near term resistance level.
Short
by ForexFunction