Hello all,
We've been watching gold very closely the last couple weeks. Until now the price was just ranging and we are at a do-or-die level. If the channel support holds, we can expect the target to be hit easily.
According to us this pair is a confirmed uptrend daily channel , within we can see the price is rejected multiple times to head lower. Inside this channel we can see a linear resistance, once this is broken it will be a freight train to the upside. Breaking up this linear resistance is a confirmation for safe traders. If you don't mind taking risk, longing here could pay off for you, with the given SL.
Good luck!
We've been watching gold very closely the last couple weeks. Until now the price was just ranging and we are at a do-or-die level. If the channel support holds, we can expect the target to be hit easily.
According to us this pair is a confirmed uptrend daily channel , within we can see the price is rejected multiple times to head lower. Inside this channel we can see a linear resistance, once this is broken it will be a freight train to the upside. Breaking up this linear resistance is a confirmation for safe traders. If you don't mind taking risk, longing here could pay off for you, with the given SL.
Good luck!