Is 1248.X possible? I think yes, it would seem due to current US China trade war..$ gonna lose its strength os XAU will be appreciated.
this quarter ending will show more clear picture..
38.2fib support just 60 pips below.. followed by dynamic support of 50EMA and bullish trendline..
i think it can stop the free fall of cable due to brexit..
can be wrong, cable can pierce through all above mentioned zones and drop all the way to 144.50, do hedge it day after tomorrow if its falling further, but right now on small TF its consolidating and there is...
Feeding on USD weakness, we have strong bullish momentum, and can hit our target 1 easily.
On the Flip side if fundamental shift is seen, it may come down to 1.2080ish level and in extension to 1.202x.
Bearish Trend line is broken and NZD is pushing up towards North..
Enter Long once the grey Area (highlighted) is breached, as it may further confirm the upward movement and momentum.
If Rejected by Grey Area wait for retest from Bullish trend line and enter Long again..
After a big rally from 123x, gold is now @ 130x, Once the zone is broken wait for a retest and enter..
my bias: if Dollar was weak, it will go up and will try to touch 1316.
on the flip side it may want to drop to 1283.
Weekly Bullish trend line seems like a powerful support atm and augmentation of .78 fib level rejection is compelling me go for long setup.
if weekly trend line is broken due to fundamentals its a sell..
A bullish engulf with strong dynamic support from bullish trend line may help in breaching of weekly resistance. bullish channel is holding grounds firmly.
My Bias: Long
Reason: Bullish Momentum, Bullish structure integrity.
On a flip side, once the trend line is breached "southwards" and a failure upon testing the bullish trend line, may somewhat indicate that...
Holding above 150.40ish along with bullish weekly trend line providing powerful support, may push price to 154.20ish and in extension to 156.
if 150.40 is breached, bears may taking control and can drop to 146.xx.
My Bias: Long.
