I have been watching this pair for some time now and expected the completion of the 4th wave to the top of the structure on the daily time frame. This wave has completed and we now wait to see which way the price will move.
Tomorrow night at 23:00 South African time (GMT+02:00), we have the NZD interest rate decision and I believe that this will assist us...
On the daily time frame we can see the trendline which broke to the upside. Looking at the impulse on the left of the daily chart, we can see that there is potential for a big move to the upside on the second impulse. I then need a smaller structure formation on a lower timeframe in order to gain an entry point.
On the 4hr we can see a 3 wave structure which...
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So the big question many of my clients have been asking is, where is the gold price going? Well contrary to popular belief, I believe that we may see a strong move to the downside before we see gains in the price again.
There has been a structure break to the downside on the daily time frame, after a 3 wave...
