XAUUSD: No reversal sign on the upside yet.

FX:XAUUSD   Gold Spot / U.S. Dollar
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Gold             may jump to 1330 and even to 1350 from time to time but the overall path is still a direction downward toward the estimative level of 1180 which is a solid support.
Therefore those who may be try to already go uphill may do it at their own risk.
My guess is that it is still too early.
You do have a big picture and an ichimoku study based on a monthly timeframe .
Now you decide of course.
Very much in deed and we should come to a level of 1180 or even bellow to 1120 or 1060 depending on the momentum of the sell of. But after that level, we can enter long long to the market with 2000+as a headline goal, but were are not there yet.
I do regularly update on XAUUSD DAX DOWI SPX CAC EURUSD and USDJPY
+1 Reply
Nice heads up Pasha. Hope there is a follow up update once the time approaches. However this is suggesting something scary, I suppose a tremendously rapid sell off of the GOLD.
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