This pair formed a rising wedge pattern and now is sitting on the support line, it could continue or break out the trendline..... PATIENCE is key
This pair has created a channel on its bullish trend and currently sitting on the support line, two things come in mind, continuation or a breakout...... It's best to wait for proper confirmation for either two scenarios
The support line failed to hold the buyers and the market broke out creating a selling opportunity with the breakout set up
The market failed to break the previous resistance level while forming a falling wedge in the process.... Signaling a reverse of the short term downward movement and continue the long term upward movement
Gold hasn't broken out of the consolidation phase.... And it's showing an ascending triangle which open a window of opportunities to trade the breakout
The market rejected to Break the previous resistance level forming a falling wedge in the process..... All reverse confirmation might go up
The pair was trending upwards until it broke out the trendline.... And it is showing us a reject
Price action have been going downward with all five waves showing.... It almost inevitably that market will reverse
In which direction will the breakout occur and who will dominate (bull or bears)
Where will the breakout occur, who will take over the (bulls or bears)?