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Naomi293

Weekly Predictions (Feb 18 - 22)

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Gold Spot / U.S. Dollar (FOREXCOM:XAUUSD)  
Naomi293 Updated   
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Support and Resistance Double Top or Bottom Moving Averages forecast predictions XAUUSD dailychart 4hrchart hourlychart
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supportandresistance doubletoporbottom movingaverage forecast predictions xauusd dailychart 4hrchart hourlychart
- Price neither oversold nor overbought
- Recent consolidation above EMA (25, close), price was unable to break on the downside
- Price is now at recent highs, could form a double top or break above zone
- Price would need to close above zone on the daily or 4-hr chart
Comment:
4-hr chart

snapshot
- Price is overbought on Stochastic Oscillator
- Broke out of recent consolidation zone on the upside

Predictions: Wait for the 4-hr candlestick to close above recent high and then retest as support to indicate price will continue on uptrend, go LONG ... Otherwise if price is unable to break and close above resistance and a bearish candlestick indicates price moving downward, then SHORT (Double Top)
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