shoulder-head-shoulder formationXAUUSD is showing an interesting constellation in the form of a shoulder-head-shoulder formation at the end of the current price action on the 24-hour chart. It is currently most likely that the gold price will fall as a result and return to a target area of USD 1880. The prerequisite for this scenario is that the orange average price in the upper chart is consistently undershot, which could take a few more days (up to a maximum of two weeks).
However, should the price of GOLD exceed the blue average at currently USD 1980, this scenario would be invalid and a new cycle with rising prices would be announced. This is again supported by the positive indicator situation in the lower area of the chart.
