Gold is on a trend downwards in other words bearish but it has a lot of room upwards as well to mean bullish. With that said, I have drafted how I see it going as you can follow on the chart above.
My believe is it will continue with the trend downwards if it respects the resistance lines. If it breaks them then we go bullish. If it respects them then we continue...
This pair is on short long term however for swing traders, you have opportunity to go long at your precedence.
However note that the market has it's own mind and might not necessarily follow the swing patterns however the key to note with this pair is first of all it's bearish long term and it's a trend. Secondly the point C on my chart if the market respects the...
This is one pair that has been bullish for a while in the long run however it seems it has hit it's mid-year highs and it's setting it's eyes on a nice short downwards to even the levels of 1.07
When the markets open tomorrow, I will be looking to short this pair instantly and forget this trade for like the next 3 months and watch what happens to your account....
