d.vezeris

XAUUSD 4H (16.06.2014) Chart Technical Analysis

FX:XAUUSD   Gold Spot / U.S. Dollar
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The XAUUSD 4H chart shows the following signs:

The XAUUSD pair has a local top on resistance line for some consolidation here. The 1285-1289 is a strong resistance. The pair is over the KUMO cloud the Tenkan Sen and Kijun Sen too. It has all the bullish force with it. Even if we have some consolidation until Wednesday the pair may decline until it meets the EMA 200 or the Kijun Sen. But that would be enough and it will react immediately upwards.

I think that we must take a long position over the 1285-1289 (broke of the downtrend orange channel) and a short under 1269 under Kijun Sen towards to KUMO.

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