As we can see, the sign of bearish already appeared. Now, the big player is waiting at the top critical level around 1300.00 to continue pressing down the gold price. The question is, can I buy now?
I vote to go long!
EURGBP clearly on retracement, if EURGBP break 0.78700 it will direct bull to 161.8 fibonacci. If not, it will drop down to fresh demand level and bounce up again to break the level of 0.78700. I choose to go long
We can see the rally retracement already exhausted. Fibonacci rally near reaching 261.8 / strong critical resistant there. XAUUSD looking for high liquidity at level 1222 something. Wait for some momentum after the price reaching 1222 +- and target to 161.8 short fibonacci.
I choose to go short at 1222 level. You?
XAUUSD clearly on rally retracement before can go short for the whole this new year. Wait for the level 1198.00 before go short. Be careful of fakeouts and bull trap, the trend clearly is DOWNTREND. Wait for SELL. I vote for sell at 1198 something. You??
GBPJPY already reach the demand level and 261 fibonacci level. As my forecast lastweek 98% accurate. Tomorrow, GBPJPY will retrace to one of two level that I drew. After that, wait for price action and go short to new level fibo 161.8 first.
GBPJPY will test the 161.8 fibonacci level before bounce to rally up in his secondary trend. After that, technically it will be drop down back to follow his primary trend and continues drop to 261.8 level fibonacci. As now, GBPJPY across the monthly critical level. So, short term for now, SELL. Reached 161.8, buy ...
EURJPY continues to rally as it break key level plus chart patterns buy. Continue their short term retracement rally to find liquidity at critical level. As 261.8 fibonacci level / forecast liquidity critical level there, the price will drop at the 261 fibo level. For now, you can buy. But beware, at 161 close ...
Technical analysis for GBPUSD :
GBPUSD will drop more to 261.8 fibonacci level or 1.53000 as we can see from the previous chart pattern and price action. You can start sell now or wait for any retracement.