Already reached at the highest point. The past price action doing the same thing which is Impulse and Pullback. This week, I'm looking for pullback after Impulse and might reject the trendline. Most likely, it will pullback on Demand zone of 1H Timeframe and Golden zone of FIB.
The 0.64500 serves as a great barrier which has been rejected on daily time frame. It also rejecting the key level and previous low here at daily timeframe . Here are the confluences; a. Daily FIB from push (since there is an impulse and kinda corrective on lower time frame) b. Daily key level and previous low c. Major psychological level (0.64500)
-The bearish trend is getting weaker based on daily timeframe - Most likely, it will go down further to get liquidity @ price of 86.550 Here are the confluences; a. Liquidity Area b. Daily FIB 78.6% c. Forming a Wedge (reversal) d. Major psychological level 86.500 (If rejected)
Looking for Continuation on Gold next week Confluences a. Key level b. 4H FIB c. Trendline