XAUUSD rising within the Channel Up on the 4H MA50

Gold (XAUUSD) hit both of our targets on our previous short-term analysis (see chart below) as not only did it hit the top (Higher Highs trend-line) of the March Channel Up, but it also pulled back to the 4H MA50 (blue trend-line):


As we pointed out, we expected that to be the Support and the recent rally since hitting it, validates that expectation. We expect this rebound to extend as high as the top of the Channel Up, hence target 2075. That is still under the 1.382 Fibonacci extension, which was the target on the previous two Higher Highs waves.

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