InvestingScope
Long

Bullish rebound sustainable. Target near. Long.

FX:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD follows the projected curve pattern precisely so far as it has peaked to 1,265.90 very close to the first TP = 1,267.00. As expected the December 2017 bottom level = 1,236.50 has provided the supporting foundation on the 1D scale (Highs/Lows = 2.9100, B/ BP = 1.8320) necessary to sustain the rebound on the medium term. The latest 1W candle closed on +0.24% gains (the first positive week after three straight in losses), with the current one already on a +0.87% increase. On an intra-day level Gold should now retrace to 1,259.83 (1D MA(5)) and trade sideways to offset the currently overbought 5H (STOCHRSI = 76.580, Williams = -17.493, CCI = 254.1238). The remaining targets are 1,274.50 and 1,284.12. See how the rise on Gold is disproportionate to the decline on DX , since it was lagging since late June and now trying to harmonize the correlation.
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