The prices has reached the previous highs at 62USD (strong resistance).
The Elliot Wave complete the 3rd wave at 1.414 fibonacci level from the wave 1
The RSI its overbought in daily chart.
I expect a big correction
The pair has broken his uptrendline, now it's retesting the structure and also has a confluence with the .618 of fibonacci. Time to short the pair with main objective at 85,6.
The RSI has overbought in the daily chart
Trade with care
I was follow the last impulse for Gold and now I think it's completing the 3rd wave from Elliot Wave perspective, so may the wave 4 it's arround the corner and after retest the 1,274 area we can go long for gold to achieve the 1,305, 1330.
The pair is showing weakness at the 4H frame, and now it's at .618 fibonacci from the last higher high, so, it's a good resistance level to go short for this pair and I expect a big drop until .87 level. If the pair break below .87 the wave could be really huge for the downside