Neutral Bias.
Price could drop till 1.70000 level on the Weekly chart or could shoot up from the higher highs and lows formed on the 4 Hour chart.
Waiting for more confirmation.
A Shooting star has formed at a key area of resistance on the weekly chart. Simultaneously, the stochastic indicates price is overbought.
I'm staying short till price comes close to the lower trend line or till the 1.26701 price level on the Daily Chart where the Bulls could come in.
Monthly
Gold has gone parabolic and could drop to test the 20 MA.
Shooting Star forming.
Stochastic in the overbought area.
Weekly
Next Demand zone to test is around 1700.
Again price has gone parabolic and looks like an inverted V - formation is pending.
Bearish Candle formed at the overbought area on stochastic.
Daily
Safe short trade to 1795.57
4 Hour...
