FX:XAUUSD   Gold Spot / U.S. Dollar
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Here's my monthly breakdown for gold against the us dollar . The precious metal has been bullish since the start of the year which I and my team predicted quite early on, if you have a look back at my earlier posts. I now think this strong bullish trend is due to come to an end. Price is approaching the monthly trend line as well as a monthly resistance zone around the $1400 area. This lines up with the 38.2 Fibonacci retracement level for added confluence.

On the daily time frame, price has formed a bullish wedge pattern which means (based on probability) that price is more likely to break to the downside.

Related Ideas

we might have just broken this
Yeah it looks like we're gonna break to the upside and go higher. But I currently have no bias I'll enter either a long or a short as long as I am presented with a clear opportunity.
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