XAUUSD: Daily update.

FX:XAUUSD   Gold Spot / U.S. Dollar
The Gold price has been very volatile this week (ATR = 4.4243) making Higher Highs and Higher Lows on 4H ( RSI = 55.47, MACD = 1.390, Highs/Lows = 0.0000) as geopolitical factors (Brexit) and fundamentals (BoJ, U.S. reports) having been offsetting each other. The pattern that stands out from previous 4H sequences is that the 0.5 - 0.618 Fibonacci retracement levels on the previous two occasions, has rejected the price. On the first occasion (February 05) the price consolidated before a new High, on the second (February 22) it was aggressively sold to this month's bottom. So if 0.618 breaks this time, we expect an aggressive bullish move towards 1,330 with 1,350 the extension (SMA100 on 1W).

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