Almost identical chart pattern given current position of USD I'm bullish.
Currently bullish on gold from a fundamental standpoint also technically. Has found some support here a key level looking long here to zone marked where we could get potential reversal. Very possible to continue lower to 1237 but overall I am Bullish.
Up or down here we have been stuck in a range.
news events today tight stop but im looking to short great rally past few weeks due a retracement of some sort.
pulling back to structure look for short entry target @ .618
multi week trend has been broken, bear engulfing, target is marked.
Taking a look at the smaller timeframe we should see some sort of pullback into structure where I will look to enter long @ (1.312) - (1.300)
looking at more downside here waiting for a pullback to enter if we get one.
As predicted in the previous week we seen a rejection of previous high we are still in an uptrend we a potential to retest @ (1.1834). I am looking to enter short here with a break of support @ (1.1741) targets marked to take profit wait for a pullback to re-enter.
Still respecting this multi week downtrend my initial target is marked where I will look to see how the market reacts to re enter short.
could see ranging again here but my bias is to the upside short term then look to short once target is reached.
possibility of strengthening yen this week.
still acting as a level of resistance looking at this type of move.
Big sell of in previous week looking for a retracement to the area marked where I will look to sell we are still in a downward channel. (1D)
looking for a break here these are both potential moves.