Hello Traders
There are several factors that can affect the gold price this week, actually NFP and unemployment data are necessary for future FED decisions and gold of course.
So without overthinking about what will happen, let's focus on present market price action.
Gold Price is moving inside of descending channel and forming a bearish 5-wave impulse Elliot wave.
if fundamental views haven't changed, We are expecting the price to correct itself and then continue its way downward.
Our technical view has been shown in the chart.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
There are several factors that can affect the gold price this week, actually NFP and unemployment data are necessary for future FED decisions and gold of course.
So without overthinking about what will happen, let's focus on present market price action.
Gold Price is moving inside of descending channel and forming a bearish 5-wave impulse Elliot wave.
if fundamental views haven't changed, We are expecting the price to correct itself and then continue its way downward.
Our technical view has been shown in the chart.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)