XAUUSD Forecast
Gold update, previously on the Monthly timeframe I anticipated a slight drop(correction). And it's still an ongoing bearish trend, On the Daily timeframe the bearish bias is still valid maybe it will be short-lived.
We are in a double correction pattern where all of the waves are corrective patterns. The wave (Y) is still on the first leg of the sub-pattern, a Zig-Zag correction pattern. I expect a further drop to break underneath the (W) leg low.
We are in a double correction pattern where all of the waves are corrective patterns. The wave (Y) is still on the first leg of the sub-pattern, a Zig-Zag correction pattern. I expect a further drop to break underneath the (W) leg low.
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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.