Gold broke 76 handle few moments ago
Looking for a quick TP soon at 39 levels now that more interest has been put back into USDJPY
GBPUSD now on the decline after hitting its limit at where the referendum date was set.back in Feb.
Gold price is expected to make a pull back towards $1,150-$1,190 in order to complete wave 2 down, before the resumption of the larger bullish trend that has started. This scenario gets canceled if Gold price breaks below $1,045 or if the rise from $1,045 turns out to have a corrective pattern.
Gold currently testing resistance and should break through to between $1335 - $1417 levels. Break above $1417 should take us to next resistance at $1565 provided global growth concerns get worse and global depression gets worse. Make no mistake the world is in recession and this earnings season is showing how bad.
NOTE: Horizontal lines are my support/resistance...
OBSERVING PRICE ZONES.......IF FALURE BELOW 1211.20
THEN LAYING OUT SOME PROBABLE PATHS OF PRICE..
ANY CLOSING FAILURE BELOW 1175 INCREASES ODDS
THAT PRICE WILL RUSH TO THE BREAKOUT AT THE
BOTTOM OF THE BASE..
STAYING ABOVE THE HIGHLIGHTED
BALANCE POINTS GIVES THE DESIRE BIAS OF ITS PATH.