Dear traders and followers,
welcome to our weekly gold market update !
The Gold price will recover most of the big Friday losses and is now on its way to 1888 $ and o,5 Fibonacci retracement line.
Market has formed an inverted head and shoulder pattern on small time frame and broke already the neckline. Next stop before short term correction is 1870 $.
We expect another strong down wave after the market reached 1888 $ Dollar area because we expect until end of February a strong Dollar Index. This will push down Gold, Bitcoin and EUR/USD pairs.
Indicators:
The price volume indicators showing more incoming up movement because the blue momentum line still rise as well the green buy volume within the TTM squeeze indicator.
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welcome to our weekly gold market update !
The Gold price will recover most of the big Friday losses and is now on its way to 1888 $ and o,5 Fibonacci retracement line.
Market has formed an inverted head and shoulder pattern on small time frame and broke already the neckline. Next stop before short term correction is 1870 $.
We expect another strong down wave after the market reached 1888 $ Dollar area because we expect until end of February a strong Dollar Index. This will push down Gold, Bitcoin and EUR/USD pairs.
Indicators:
The price volume indicators showing more incoming up movement because the blue momentum line still rise as well the green buy volume within the TTM squeeze indicator.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Follow us and stay up to date/don't miss any new ideas
Thanks for your support !
Order cancelled:
Market failed to break above down trend line.
Waiting for new signals
Waiting for new signals
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
