Xau Had a red day today and is now looking for retracement. I expecting a move back up to the 1500s in the next day or so. IM expecting a test off of the 1 hour demand zone then a continuation up.
Expect a move down to the second touch of the previous trend. It broke out of the previous uptrend creating a new lower low and also retesting that last touch. It should move down to the next fib level which also lines up with second last touch.
USD.CHF looks like a nice set up to move on up. Expecting a full retracement(Long term) of previous elliot wave. Approaching 61.8 on fibonnacci. If it breaks zone in the next couple days it will give a push to the upside to 78.6. If it fails it will work s its way back down slowly to retest 61.8.
Focused on 4 hr charts. Market just hit main support at demand (at bottom). Working way up, Noticed inverted hammer heads and three white soldiers at indicating a bullish movement until 78.6% on the fibonnaci sequence. I think it will move up, the market may shift due to emerging news for the upcoming year. Loking at those main support lines starting fromt the...