As you look on the chart and you see the Head & Shoulders pattern forming perfectly with the neckline already has been formed. We estimate the market will keep dropping down on the upcoming weeks reaching the level of 1,796$ per ounce.
We might have a little bit of correction while waiting the release for the Core CPI of the US market which cause a volatility in...
Previously all our Take Profits has been achieved based on the released Technical Analysis in our previous videos, for today Analysis we might see a small correction in the market reaching the levels of 1,944$ and 1,950$ per ounce for the Gold alternative analysis the Sellers will keep pushing the market in a Down Trend leaving no room for the Bulls, as we will be...
As seen on the chart for Elliott correction wave the 3 phases that are being formed the ABC pattern. The probability that the market will hit the level of $1,966 as a correction wave before the sellers retake full control of the market and hit the first TP on the downside of $1,930 about 36 points
After the EURUSD has almost hit the level of 0.618 of Fibonacci indicator reaching the level its lowest level of the week at 1.10252 forming a Hammer candle on that level, the market has retraced and started his correction uptrend assuming to reach the 0.618 of Fibonacci level on the uptrend hitting the 1.11775.
Now we have many High Impact news releasing today...
The Gold is forming the Head and Shoulders pattern which it may occur a drop in the market after the fed has rose their interest rates that will cause a the sellers to start overtaking the market which is shown on the H4 time frame
After the huge drop of the EUR currency regarding the restrictions of the lockdown in Europe.
The market has started to shift for a new Uptrend after he was testing the downtrend Trendline .
Market Targets
Entry points: 1.12363 - 1.12770
TP targets: 1.13009 - 1.14444 - 1.16872
SL targets: 1.11849 - 1.11600
For the one who followed me in my previous Analysis can see that the alternative scenario was the 1,803 point in a down trend and it did break out the fibonacci level 61.8 after President Biden tweet.
Now my Analysis for the upcoming market is UP TREND
key points to enter the markets : 1,786 - 1,790 - 1,803
Take profit targets: 1,814 - 1,826 - 1,836
Stop loss :...
Gold has breakout its last resistance at 1,833 and made a new resistance zone at 1,870
re-test is confirming as we can see from the Weekly trendline and the daily chart
alternative scenario is going to test the Fibonacci level of 61.8%
entry point at level 1,837 - 1,845
targets:
TP: 1,870 - 1,900 - 1,916
SL: 1,830 - 1, 820
