This chart focuses on the XAU/USD (Gold/US Dollar) pair, with an emphasis on Fibonacci retracement levels, trend channels, and the Relative Strength Index (RSI) to analyze potential future price movements. Here’s a breakdown of the analysis and prediction:
1. Fibonacci Retracement Levels: The chart uses Fibonacci retracement levels from a recent high and low. Key...
1. Cup and Handle Pattern
The large white arc indicates a potential Cup and Handle formation, a bullish continuation pattern. This pattern usually suggests a potential breakout if confirmed. The cup forms after a rounded bottom, while the handle forms as a consolidation after the initial rise, often before a breakout.
The price action to the right, after the cup,...
1. Cup and Handle Pattern
The large white arc indicates a potential Cup and Handle formation, a bullish continuation pattern. This pattern usually suggests a potential breakout if confirmed. The cup forms after a rounded bottom, while the handle forms as a consolidation after the initial rise, often before a breakout.
The price action to the right, after...
