When you look at the daily time frame on Gold , marked in orange, you can see the impulse on the left, the corrective structure and a break of that corrective structure to the upside. The price pulled back after the break and is currently forming the same setup on the H4 time frame, marked in pink. This will confirm the bigger move and price is currently trading...
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...
