Scenario for the coming period on GOLD
Simple price action and technical analysis.
Daily Chart.
The price is above MA 100 and there is a clear reaction as retest around MA 100.
Also, at the same area, 1800 USD, the Fibonacci indicator shows us a rejection from the 0.5 level.
H4 Chart.
Price has broken the preview high ( 0.236 fib level ) and it is heading to 0.5 or 1875 USD price level.
Due to low volume above 1880 USD, as you can see on the Volume profile, the price might keep moving aggressively to the upside with the final targets ( or more recent ones ) to 1900 USD or above, at 1930 USD.
On the bullish side, the price reacted positively on NFP.
If the price fails to break above 1875 USD, then we might expect another down move.
Don't Stumble Trading. Trade Safe!
Daily Chart.
The price is above MA 100 and there is a clear reaction as retest around MA 100.
Also, at the same area, 1800 USD, the Fibonacci indicator shows us a rejection from the 0.5 level.
H4 Chart.
Price has broken the preview high ( 0.236 fib level ) and it is heading to 0.5 or 1875 USD price level.
Due to low volume above 1880 USD, as you can see on the Volume profile, the price might keep moving aggressively to the upside with the final targets ( or more recent ones ) to 1900 USD or above, at 1930 USD.
On the bullish side, the price reacted positively on NFP.
If the price fails to break above 1875 USD, then we might expect another down move.
Don't Stumble Trading. Trade Safe!
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