Gold in its daily time frame has retraced from 0.5% fib level, potential ABCD pattern forming, don't really use ABCD on my charts but I thought id add it on.
This pair has been fighting for the 1200 level with but with last weeks strong bearish move I believe it could been broken.
It is also under the 200ema, in a bearish channel, and almost under the ichimoku cloud, even the around a cloud twist is needed.
First target - 1142
The other two red line's are potential D extension levels.
Will be volatile next week as there is a lot of US new.
This pair has been fighting for the 1200 level with but with last weeks strong bearish move I believe it could been broken.
It is also under the 200ema, in a bearish channel, and almost under the ichimoku cloud, even the around a cloud twist is needed.
First target - 1142
The other two red line's are potential D extension levels.
Will be volatile next week as there is a lot of US new.