Naomi293

Weekly Predictions (Feb 25 - Mar 1)

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
- Reversal candlestick pattern suggesting beginning of a downtrend after pair came from a sustained uptrend, made new yearly highs and had double confirmation of being overbought on the Stochastic Oscillator and RSI
- Wait for break and retest of previous resistance, now turned support and EMA (25, close) on the downside
Comment: 4-hr chart


- Pair oversold on Stochastic Oscillator
- Failed to break EMA (25, close) on the upside
- Look out for price to test support again
Comment: Link to previous Weekly Predictions:
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