Aside from a possible bull flag and the completion of 2 corrective measured moves down, the 13 EMA is about to attempt to cross over the 48 again on the daily. The first real attempt at a cross during this correction was in NOV, which popped but ultimately failed. I've found that the 1st attempt often fails and the 2nd or 3rd attempts often succeed. Good luck!
We had a sell off but fail on Monday before a strong rally $70 higher. Ranging yesterday. Where are we going to today?
Today is #NFP and recently we have much of a sell on good news. Could today be that reversal day?
Based on my system, lots of support below, 1835.42-36.66 (my blue bias zone) and 1828.26-65. Bias towards the upside, targeting 1848.490, 50.43,...
see full chart at www.tradingview.com
Target 1 $17
Target 2 $20
Why it is a buy?
Stimulus bill #2 will eventually come out by 2021, Along with FOMC mentioning that they will allow inflation to run wild. what that means is that, the fundamental value of GOLD and other minerals will increase in price. While...
Long consolidation and several false breakouts, but in the end trend remains intact in OANDA:XAUUSD , as it is now trying to push to new ATH.
Unless ~1900$ is broken upside scenarios should be favored for now.