Part 7 - Risk-off August - XAU/USD Daily
Updated
XAU/USD – Daily Resistance & Support:
Resistance: 1250.00 / 1260.00 / 1300.00 / 1340.00 / 1380.00 / 1420.00 / 1480.00
Support: 1210.00 / 1195.00 / 1160.00 / 1115.00 / 1080.00
XAU/USD – Summary:
Expected to start a Bullish Corrective Structure in a three-swings sequence at or around the 1195.00 levels and possibly retest the 1260.00 – 1300.00 vibration area.
Bearish Impulse expected around the 1260.00 – 1300.00 area, towards the possible retest of the 1125.00 December 2016 lows and the pattern’s completion.
If all scenarios would turn out to unfold as expected and Gold would retest the 1115.00 levels, then that specific area could be seen by bulls as an opportunity for longs, which could even reach the 1480.00 levels in an Impulse.
Resistance: 1250.00 / 1260.00 / 1300.00 / 1340.00 / 1380.00 / 1420.00 / 1480.00
Support: 1210.00 / 1195.00 / 1160.00 / 1115.00 / 1080.00
XAU/USD – Summary:
Expected to start a Bullish Corrective Structure in a three-swings sequence at or around the 1195.00 levels and possibly retest the 1260.00 – 1300.00 vibration area.
Bearish Impulse expected around the 1260.00 – 1300.00 area, towards the possible retest of the 1125.00 December 2016 lows and the pattern’s completion.
If all scenarios would turn out to unfold as expected and Gold would retest the 1115.00 levels, then that specific area could be seen by bulls as an opportunity for longs, which could even reach the 1480.00 levels in an Impulse.
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