OANDA:XAUUSD   Gold Spot / U.S. Dollar
as we can see here gold has been on a rise for a little while and has now reached a major resistance area which it has tested many times (the top green area). and it has been consolidating under the resistance area and has just tested it slightly, but hasn't moved past it. recently gold has just broken down past an up trending bottom support line. when the market broke out it came down and tapped the 0.618 fib level and is now approaching back up to the 0.5 / 0.382 level, and also there is an appropriate resistance level at the 0.382 fib level. so in this area, we should hopefully be looking for further candle confirmation with also help of indicators if needed to be looking for a sell to the downside.
please cancel this idea because gold has not strongly moved and broke to the upside :(
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