I would expect the price to move up, after the formation of a flag. Daily resistance and trend should be strong enough to push the price further up. Long term fundamentals I don't see any reason of why it should move down. Short term news, might shatter the pattern, but long term the direction is likely to go up. Good Luck to all of us.
A possible head and shoulders to appear on EUR GBP. It is not completed. However, there is a Resistance level at 0.87 around. Further a rejection candle 2 days ago. It couldn't break through that level and close above. Set a SL above the wick on the rejcting candle. Good luck, if it breaks the 0.87 level the idea is void.
Hello. a Huge downwards pressure put price of gold below 1272. A wedge is formed. If the ressistance of 1263 aint broken today, I expect the price to slow down and then make its move whether up or down. I would follow trend and say it is going to test that weekly support at roughly 1217 area. What do you think?
After a channel-run with multiple touches, it seems that price has reverted to the downside. However, this could be also a fakeout since there is still some way to go until first soft resistance at 0.76657 or even stronger resistance at 0.76952. More likely it will go to the downside. An individual Buy-Stop or Sell-Stop to place. Good luck - I placed a short.