Weekly: We can see that the pair has broke out to the upside of a tight consolidation with a strong Bullish Candlestick. From a long term view, Gold could potentially push higher towards the fib level at 1287 region where it will meet the high of the Weekly Range. But for now, the pair has to react to the next resistance at 1245 region where it coincide with the Dynamic Resistance. This could proves to be a strong Supply Zone for the seller. But if broken, the pair will likely to push strongly towards the resistance at 1287 region.
Daily: The pair has broken out of the tight range with a strong Bullish Momentum, running a total of 300 pips before it slowed down near 1225 - 1220 region. What I can see is that the pair could likely drop further to retest the Support at 1205 region, in which it coincide with the Fib level, Dynamic Support and the upside of the Consolidation Range.
H4: Looking closer we can see that the pair is currently consolidating around the 1220 region as the market is unsure of which direction to go. A sustained move below 1220 will likely expose the pair to 1205. Alternatively, if 1220 hold as support, the pair could likely push higher without testing the lower support.
