This TL has been in place since March. and with no major catalyst coming up this pair is probably due another move downwards.
Waiting for the longer term trend to be determined.
Just keep it simple
Gold has finally broke through a downwards trendline that has been in place since Aug 2013.
I`m expecting a pullback this week to around 1200 - 1190 before a further move up to 1300(T1), and a futher move from there to T2 and T3
This is just a short term "Head and Shoulders" pattern on the EURNZD.
Long term term has formed on this pair.