As I said last time, the price has consolidated towards resistance And she began to fall. I expect the fall to continue. The main reason for this: - strong resistance zone at the intersection of two lines in April and August 2020. The price entered this zone at the end of the day at 1796.88. It consolidated at the position of 1798.96 and began to fall. I expect the price to break through the 1772.86 line and continue to fall. The target is 1725.87.
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Yesterday's price drop surprised me a lot! Such a confident drop tells me that the price will continue to fall! Where will the price go until Friday, where will we end this week?
UnknownUnicorn15614419
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Thanks for your hard work friend! In general, I agree that the price will fall. However, I want to clarify. Here one gets the impression that the price will once again bounce off the support (resistance) line, touch the upper border of the zone and possibly fall only after that. Do you not allow this option?
Lingrid
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How do you feel about the fact that Gold and EURUSD are compared in the same directions?
Last month, an ounce of gold rose to $ 1,769.
Do you have the same direction for Gold and EURUSD? As for me, these currency pairs don't overlap very often and we cannot adjust them specifically for one direction
It is necessary to refer to technical analysis and fundamental)
ryanpope1984
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@DeGRAM bro to be honest u have been waiting and predicting for the price since the past 3 weeks... but the price has only been rising with so much bullish momentum and do not see it falling anytime soon particularly cause of the rising covid cases in India here currently...
And even if it falls as you predict, what is your target time to reach ur target 1725...?!
TradingAlchemist
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is it true that if lockdowns in europe stop and the fourth wave of pandemic hits united states hard, then downward trend in precious metal market will stop, as profitability of traditional, risky assets will fall?
jojofang0901
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Do agree with a short term bearish outlook also thx :)
InkyGrip
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Interesting chart! 🦐
DeGRAM
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@plancton0618, Thanks.
Wolf_of_Trading
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thanks for sharing , i was also bearish from the resistance zone