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TradeyMarkets

XAUUSD STAYS BELOW $1,850.

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
TradeyMarkets  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis elliotwaveanalysis elliottwaveretracement elliottwaveforecasts Gold goldidea goldusd XAUUSD xauusdshort
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trendanalysis chartpattern waveanalysis elliotwaveanalysis elliottwaveretracement elliottwaveforecasts gold goldidea goldusd xauusd xauusdshort
On Thursday, XAUUSD prices fell for the second day in a row due to some follow-through USD purchasing.
The deteriorating global economic picture boosted the US dollar's standing as the world's reserve currency, undermining enthusiasm for dollar-denominated gold.
Technically the yellow metal was trending with 5 waves upwards within an ascending channel.
We expect a major correction (an A B C) downwards towards 1830 1850 area.
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