Monday 11 July 2016

Forex - XAUUSD ( Gold )

XAUUSD ( Gold ) - situation is not that clear, as bears gave up too much ground last Friday.
I'm still looking to sell intraday ( looking to sell again ) but need to see daily close below 1358. If done the next target ( visible demand ) should be around 1335/30 and then around 1300.


As you can see on the charts below ( two the same daily charts with different zoom ) there is also chance for patient bulls. Weekly close above 1375/80 will cancel my bearish scenario and rally towards 1400, then 1465/85 and finally towards top of the big m-phone formation will be possible.



Mr Price Action






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