XAUUSD: The Bearish channel is still valid

FX:XAUUSD   Gold / U.S. Dollar
Thisis a big picture: state of play concerning XAUUSD             .
The precious metal is still on the downside channel with 1220 as a resistance upside and 1080 on the downside as a target. This may continue until FED decide to increase the interest rate. At first, by increasing interest rate, USD with gain value against EUR and this will not favor XAUUSD             . but on a medium term basis and with the genuine risk of inflation , XAUUSd             may start gaining some value when FED's interest rate come at a stage where the increase it about 0.50 base point.
On the other hand, The next level of Gold             may be 1180, 1138, 1100, 1080, 1060 and 1040. On the downside. Bellow 1040, it is rather dangerous because the precious metal may slip towards 960.
On the upside, unless XAUUSd             cross 1280, the upside should be limited to 1256 and one should consider a reversal if the precious metal cross 1280.
On the Ichimoku side of the story, there is no recovery of gold             nor a change of trend foreseen here at all. A double Tenkan-Kijun twist the second canceling the first one and a Lagging span which is parallel to the price .
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out