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RafalZuchowicz

GOLD 38.2 Fibo on Monthly

Long
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
RafalZuchowicz Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Support and Resistance Fibonacci Gold XAUUSD
6
0
supportandresistance fibonacci gold xauusd
Very strong support on GOLD!

38.2 retracement on Monthly chart acted as a strong support. Also claster 161.8 of previous correction plus bullish engulfing pattern. Looks like GOLD might go UP for a while now. 600 pips until next serious resistance.
Comment:
Looks like Gold is pulling back to form potential Reverse H&S, so keep eye on it at around 1690
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