Political situation buts save heaven in green line but no movement without correction
So am looking for correction to re-enter above 1360 in monthly closing it will push up yellow metal forward to 1470 inshallah
First needs to touch 1402 to continue diving inshallah
AS I MEAN-SHED BEFORE THAT GOLD WILL STILL BEARSH IF IT FAILED IN 1340 AREA FROM 2012 !!
IT WILL BACK TO UP SIDE IF IT FAILED AGAIN IN 1230 AREA OR IF IT CROSSES THE TRIANGLE IN 1340 AREA OTHERWISE YOU CAN SELL ON RALLY
if GOLD closes two candle below 1325 it will reach 1301 and 1285 area if not , we will see 1373 /1380 before federal announces march rate.
above 1300 it means will still in bullish side because its above uptrend line
1325 will decide if it 1301 or 1370
the pair tested 1338 in earlier morning and has fallen to 1318 area and start to rally to 1349
i see that there is a small correction to 1340/1336 area then will continue to 1358/1365 area
you have to watch YEN .. YEN ... YEN
it will not start fall without oversold in USDJPY pair i think it needs to reach 105.5 area
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when we talk about JAPANESE YEN VERSUS GOLD we are talking about safe haven currencies both of them in same needs and same movements versus USD .
so when we wanna know JPY and Gold real way you should track this pair.
XAUJPY looks below weekly uptrend for the second week in succession but it looks failed to broke daily uptrend
so i will stay watching...
as i told you before
BTC in weekly needs more correction in downside to get overbought !
7100$ would be a 61.8% retracement of last movement from 6000 to 9300$
so .. closing below 7100 would confirm my bearish view and targets 4000's area
however we will see Asian money in GOLD OR BTC
as we see in 4H CHART in BTC i made a lower low every time .