FX:XAUUSD   Gold Spot / U.S. Dollar
Another proof, but now, of the fibonacci projection , based on the previous down trend channel.

The top and the bottom on the channel are confirmed by the RSI , which then breaks into a up-trend, hitting precisely the first fibonacci target (38%) in a short time.

By this indicator, if the trend continues, we can expect at least to reach the second target (50%) at 1966. The third target (68%) might be too far away, but is located around 2026, a place of strong resistance.

The VWAP indicates a positive trend.


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