Rising Wedge GOLD!!!
Gold has formed a big rising wedge started at 1680 Level. I think we gonna see soon a retest of that level before any continuation up or rally.
On the other side we have the US dollar that need to retest the 110 level supporting this idea which is important cause they are inversely correlated.
It has a positive correlation with EurUsd instead which is acting the same way and we mostly see that too retesting 0.995 level.
This analysis is based on knowledge of pattern proper risk management should be taken.
My Bias on gold on the long run is a rally to the 2k level
On the other side we have the US dollar that need to retest the 110 level supporting this idea which is important cause they are inversely correlated.
It has a positive correlation with EurUsd instead which is acting the same way and we mostly see that too retesting 0.995 level.
This analysis is based on knowledge of pattern proper risk management should be taken.
My Bias on gold on the long run is a rally to the 2k level
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.