XAUUSD: Short term buy. 1H Channel Up.

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold opened lower today but the downtrend was contained on Friday's 1,546.50 Support. The rebound creates a Channel Up on the 1H chart ( RSI = 48.937, ADX = 41.707, Highs/Lows = 0.0000) which if it manages to break 1,561 again (Soleimani's death Gap), it can make a new Higher High. The MACD is also rolling over to a bullish cross. The short term Target now is 1,565.50.

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You believe I'll make it to your top of channel? Another perspective:
+1 Reply
InvestingScope Fibonacci_Technician
@Fibonacci_Technician, Looks like an H&S. Yes if 1,555 doesn't break your pattern is valid.
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