FXHighway
Short

Gold completes the negative formation

FX:XAUUSD   Gold Spot / U.S. Dollar
192 0 1
Target: 1070.00
Risk: 1130.00

Technical Reasons:

Gold             price succeeded to complete the double top pattern by breaking 1117.65 level, and the negative effect of this pattern is waited to lead the price to visit 1070.00 level.

Breaking 1100.00 is required to confirm the continuation of the decline towards the waited target, and the price gets negative signals coming from stochastic and the exponential moving averages 50 and 100, which support heading towards the next target at 1070.00.


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