So far gold has moved as per the path illustrated, breakout and retest are done. So today have to focus on whether the 1862 break below or 1880 break above. Breaking below 1862 and we have the immediate target of 1854/52 and below that 1844/40. On the hand, if breaking above 1880 then the next potential target would be 1890 / 95. Some indicators are showing the sign that the price is bearish atm also we have double top formed. However, FED speaks today and we should expect the unexpected.
Trade closed: target reached:
As mentioned earlier, breaking above 1880 then the next potential target would be 1890 / 95. Target hit.