Erhan Eker
Long

XAUUSD HEW UPDATE

FX:XAUUSD   Gold/U.S. Dollar
138 0 1
1251 low fits with Wave -v- of Wave c targets and 1250 level is a strong demand zone. So we can consolidate here for recovery to upside. We also breached down to channel. This is sometimes trigger a processes of resumption of last sellers along with profit taking of early shorters. This processes often end with with test of upper trend channel test and even break of it to upside.

Anyway HEW wise minor recovery looks like three waves. As long as 1251 holds, we can see a move through to 1281 resistance

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