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LONDON SESSION WATCH – XAU/USD

FX:XAUUSD   Gold/U.S. Dollar
218 0 1
Gold             has breached the black horizontal line that we discussed yesterday in our London Session Watch. We could possibly see the price continue this upside movement until the 200 period moving average is hit. If the price breaks the 200 period moving average , we could possibly see a trend change coming. The parabolic SAR indicator and the MACD has been supporting this break of the black horizontal line which increases odds for buyers. Before the break of the black horizontal line, we had an inside bar candlestick pattern followed by an engulfing bar candlestick pattern which addes fuel to this breakout. We could possibly see the price soar from this black horizontal line to the 200 period moving average in todays London session.
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