To add to our list of correct forecasts this week; whilst many people predicted that we would see downside in this commodity, we believed there was potential for a bullish impulse which was observed yesterday. The original forecast can be found in our telegram channels.
Once again, another forecast came true for us. After a strong rally up, AUD/USD rejected the resistance zone perfectly and is now making a pullback to the downside. The original version for comparison purposes can be found in our Telegram channels.
This week in our telegram channels, we forecasted EUR/USD travelling south after rejecting the 1.117 area. This is the current version of the chart showing price moving in a bearish pullback. The original version was posted in our Platinum Telegram Channel.
Above is our current outlook for the Pound against the US Dollar. Although GBP is subject to extreme volatility in light of it's recent fundamental state, we forecast a rejection off the 1.30 resistance followed by a potential rise. In the longer term we do see price retracing/returning back to the 1.26-1.27 region.
The following views are expressed on behalf of Wealth By Forex: - Overall we have been short since the double top pattern at the 1550's region and upon the break of the daily bullish trend line in late September - this added further confluence to our belief that we would be seeing an even greater pullback for Gold . - A retest of the broken trend line/support...