As it said in its past forecasts, the price continues to rise to the resistance line in order to reverse. First, the price bounced off the support level of 1679.67.
Then it continued to rise and broke through the resistance at 1738.56.
And now the price continues to stand on the position with practically no progress compared to yesterday. Nevertheless, I continue to forecast.
I expect that the price will continue to rise and will first touch the August 2020 resistance line at 1775.45. Then it will turn around and fall back to the June 2019 support line. So my final target is support line 1698.99.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad 👩💻
I am convinced that the price is ready to fall directly from the point of resistance.
What is your expectation of growth based on?
I don’t think there’s enough support for the price.
TradingAlchemist
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last week became positive for xauusd market. some calm in the debt market and slight weakening of american currency rate support prices. thank dear
UnknownUnicorn15614419
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Thanks for your hard work friend! I trust your experience and your opinion, but still I hope for a faster fall. Since now the price is at a fairly strong resistance level. What do you think?
Do you believe the fall started already from 1758 ?
Lingrid
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@jordanian2020, let's see, today there will be an update of the idea
Solldy
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In January there was a false break of the resistance line! How to use SL? Can this long breakdown be repeated? After all, from January 20, the price is perfectly repelled from this line!
Trendymanners
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Gold is following the pattern of GBPNZD with a 5 month time lag. It formed exactly the same double bottom as GN and now GN has broken through the declining resistance line delineating the top of the bull flag and heading on up. IF the same relationship and lag occurs (no guarantees of course) you have a free crystal ball for the price of Gold. Happy weekend!
Lingrid
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@Trendymanners, thank you for sharing your thoughts)
have a good weekend too)
What is your expectation of growth based on?
I don’t think there’s enough support for the price.