DiamondForexAcademy

XAUUSD FIBONACCI AND ELLIOT WAVE PROGRESSION ANALYSIS

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD has been on the rise for the last few weeks, and although it made a sharp drop sometime last week, it has risen again and has crossed a key level at 1760...it is currently at another minor zone at 1770...If price breaks above this level and closes above then we can expect a move to around 1900... Following Elliot wave and Fibonacci key level analysis, in alignment with market structure, we are in a bullish market for gold and if the current economic crisis and Corona version two fears persist, we could see gold making even higher highs in the near future...
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.