We clearly see a bearish divergence has been formed for sometime and we look for a trigger to SELL down way below to the golden target of 1728!
I expect to see gold typically break the wedge downward. Target could be the lower support area of 1770-65.
I expect gold to go up for around 1810-1812 and then drop to 1728!
We see a rising wedge bearish is shaping and with a possible retest will go down more I think. Trade with your own risk.
USD index is breaking a triangle and I think it goes down!
We saw this pattern coming some days ago and predicted the outcome right on this Friday!
Gold has broken the trend line at 4H timeframe and may decide to go up after a retest and see upper areas but there is another scenario may occur as it ain't broken the daily trendline at 1690 yet and we should still wait to see if it breaks we sure the trend has been reversed!
As I expected last week, gold will retest the broken trendline around 1690 (even lower to 1670) then will see higher resistance levels at 1724 and 1729.
Gold has broken the 4H falling channel and may decide to return to the channel but it still not broken the daily channel and we should wait to see and decide to go up or down!
As we see the US index is walking on the wedge pathway step by step!
We got a shark ascending harmonic pattern at 30M timeframe with the likely target of 1645!
I think with the big dump at last night we could go up and see around 1650-1652 and then down lower support area to 1620.
With the current fundamental and technical conditions we are going to experience in the couple of days to the critical Friday session, I predict the gold to go lower down to the main support at 1630 and beyond!
As you can see we got a rising wedge pattern which is going to be break downward soon!
We are at the golden area of Fib 50-61.8 and as we see we are up to 1651 TP.
As you can see there is a classic rising wedge pattern is going on at 30M timeframe and with the news coming on tomorrow I predict we could go up to 1652-1660!
We are at the golden Fibo line of 50 and we scalped and got many bulks up from there to upper targets but the first real big tp could be around 1660 and beyond! We have got one week for bullish till the big news at early November to surf down!