Price reached a very important resistance zone on Friday. It closed showing rejection forming a Head and Shoulder on a 1h chart which has actually already broken the neckline of such pattern. If this is the case and the H&S continues to confirm, we could see price fall towards a support area near the 112.790s range.
On the long term, this could only mean a pull back since price has shown strength and speed throughout the week due to the FED raising interest rate and the US picking up strength continuously.
We can't ignore price wanting to break the resistance to test even higher prices!
BEST OF LUCK, COMMENT, LIKE AND SHARE!
Follow me on youtube for weekly Forex and Gold analysis: Felipe R. Sanche
On the long term, this could only mean a pull back since price has shown strength and speed throughout the week due to the FED raising interest rate and the US picking up strength continuously.
We can't ignore price wanting to break the resistance to test even higher prices!
BEST OF LUCK, COMMENT, LIKE AND SHARE!
Follow me on youtube for weekly Forex and Gold analysis: Felipe R. Sanche