Nice M pattern in down-trending pair. Setup chart in the 1H, Trigger chart in the 15M for a potential 60 PIP gain. This technical info coupled with over outlook of a weak Aussie and a Bumped Trumped dollar, probability of downtrend continuing Strong.
large drop in gold flowing to risky assets during Friday indicates downward pressure on gold RSI(14) forms hidden bearish divergence where CCI reach lower than -200 level. Only "Sell" position would worth reward-risk ratio but WAIT! for the pullback. ADX is lower but still more than 20, implying downward pressure on gold does not violate long-term upward momentum...
last basic upside trend (b) to (C) after great red comeback in the midterm elections 2014 - it seems like, that the us presidential election 2016 results are a creating a new basic scenario in the DOW Industrial @ monthly technical buying SetUp above 18000 Buy (lonterm) under 15400 Sell (lonterm) Classic BreakOut while July2016 (green...
Trump Cup ^^ I am expecting a move to 1316 or 1328 at which it will be a sharp dive to 1286 or 1270 then a huge Brexit like long gold candle possibly aiming for 1340