XAU/USD - Market Update - Gold about to explode to the upside?
XAU/USD - Market Update - Gold about to explode to the upside?
We've been seeing that price has managed to pull-back down. Interesting enough; price has pulled back down to our Weekly Support of 1325.00. Which has aligned with a lot of previous structure. We also have a 23.60% Minor Fibonacci Area as well as a potential Major Trend-Line rejection.
If we see a nice -Bullish- candle close on this pair, we may potentially see gold explode to the upside! With the change of price reaching 1375.00 Weekly Resistance + -27.00% Minor Fibonacci area.
This is going to be a interesting pair to keep in eye out. Mainly awaiting for confirmation.
We've been seeing that price has managed to pull-back down. Interesting enough; price has pulled back down to our Weekly Support of 1325.00. Which has aligned with a lot of previous structure. We also have a 23.60% Minor Fibonacci Area as well as a potential Major Trend-Line rejection.
If we see a nice -Bullish- candle close on this pair, we may potentially see gold explode to the upside! With the change of price reaching 1375.00 Weekly Resistance + -27.00% Minor Fibonacci area.
This is going to be a interesting pair to keep in eye out. Mainly awaiting for confirmation.