Chrishasenn

Chrishasenn

I think there is a strong chance for a drop of this pair. The chart is hitting a resistance that acted as a support these last days, and if you go back to beginning of 2019, it has also been working as resistance and support by then. Chart is as well hitting 0.618 fib level. I think that this is where the new downward trend is going to be defined.

Chrishasenn Updated 

Chart broke the trend support and is now reaching a strong previous support of the chart. I think that it is going to correct till the fib level which matches with a possible resistance that was a previous support

Chrishasenn

Gold is reaching 2 strong resistances. They both cross themselves at this point. The RSI is not reaching overbought levels but is pretty close to it. The chart now entered a “sell sell” zone by being in the area of the two red arrows.

Chrishasenn

Chart is hitting fib level, as well as a chart support, and a previous resistance has been broken and possibly converted into a support

Chrishasenn

Chart is hitting a support of fib level, getting close to a trend support as well as breaking a previous resistance that might now become a support. All 3 things at the same time.