The XAUUSD 1H diagram has the following signs:
The first Target 1280-1282 has accomplished (see the linked diagram)
a) RSI > 50 = Bull, b) MACD has given buy signal , c) The price is over the 1H EMA 200 and
d) There is a cup w/ handle pattern in progress
So.... I think that the the pair will test the 1285 resistance again.
Even if it declines @1977 the most, the upside scenario will be still valid. It will be invalid under 1272.
If it breaches the 1285 and stabilizes above it then the way for 1330 is open. The 1330 is the 100% projection of the cup w/ handle pattern and as you can see in the diagram it is a Resistance target too from April .
The Chikoun Span is over KUMO (1H) and the SPAN A (green) is over the SPAN B (red)
The first Target 1280-1282 has accomplished (see the linked diagram)
a) RSI > 50 = Bull, b) MACD has given buy signal , c) The price is over the 1H EMA 200 and
d) There is a cup w/ handle pattern in progress
So.... I think that the the pair will test the 1285 resistance again.
Even if it declines @1977 the most, the upside scenario will be still valid. It will be invalid under 1272.
If it breaches the 1285 and stabilizes above it then the way for 1330 is open. The 1330 is the 100% projection of the cup w/ handle pattern and as you can see in the diagram it is a Resistance target too from April .
The Chikoun Span is over KUMO (1H) and the SPAN A (green) is over the SPAN B (red)
