themarketzone

Gold testing strong harmonic zone

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             price broke below 1080 last week and created a new low. The latest sell off started from the bearish pattern I mentioned here few weeks ago and was accelerated when Gold             broke below its weekly uptrend line.
The critical support now is 1040-1060$.
As you can see, Gold             will complete two weekly bullish patterns inside this zone – Bullish Crab and Bullish AB=CD .
With $DXY             testing harmonic resistance zone , Gold             can definitely benefit from Dollar weakens.

Nearest target zone is 1080 (was support, now resistance) and later on, if Gold             will overcome this resistance zone , 1120$, 1140$ and 1180 will be tested.

Tomer, The MarketZone.net
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week- http://goo.gl/smQ1hC
To subscribe to the newsletters - http://goo.gl/JfOLoR
Comment: Perfect reversal. Testing resistance now
Comment: Price still playing inside the 1050-1070.. perhaps breakout is near
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out