Correction Analysis 26/6/14

FX:XAUUSD   Gold Spot / U.S. Dollar
As mentioned above you can see that the simple correction movements got respected after last dropdown.

If we consider the same behaviour here then I would think of a small sideways market for some days and then when the correction is done it will decide the new direction.

Either up or down are possible. If you follow my ideas then you can notice that Im a supporter of downwards movement here.

But before anything can happen the correction will be respected. Some up and down movements maybe but this will for now not clearly decide the direction.


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