Yesterday we expected the price to fall from a strong resistance zone, but the price continued a small growth. And nevertheless, she is still within the zone until she leaves it, so I update my whole idea and, as before, expect the beginning of the fall.
The main reason to expect a fall: a strong resistance zone, which consists of a strong level as well as a resistance trend line, which began to form in August 2020. The price is at the upper border of the resistance zone at point 1.217 and from this point I expect a reversal and fall. The price will break the resistance line and go down to the support zone of 1.202. This will be our goal.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
business climate index in germany rose 92.4 points in february from 90.3 points in january. and therefore friend european currency strengthened against the dollar
Lingrid
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@TradingAlchemist, thank you for sharing your thoughts
maybe you're right)
UnknownUnicorn15614419
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I agree with the decline, however, I am still waiting for a small correction to the resistance. What do you think about it?
Lingrid
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@TradingStat, I accept any assumptions that I am told, because only the market knows what will happen to the price
thank you for such a good chart
DeGRAM
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We are on the same path.
I know that you are attentive to the news. Waiting for the US Consumer Confidence Report?
Lingrid
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@DeGRAM, yep! fundamental analysis is very important for me)
I will definitely get acquainted with it)
Solldy
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I said that the price will reach the zone and push down! Having looked at today's situation, I can only take my words back! The heart suggests that the price will repeat the upward movement of the GOLD!
Lingrid
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@Solldy, in trading, you need to rely not only on your heart, but also on your head)