Small retrace, then continue bullish trend
forex_dr
Looking at the past of XAUUSD, It usually increases by a high amount (+- 18pip) followed by a fib retracement of 61-78% (most of the times, anyways), or decreases by a high amount and then retraces 50-61%. Based on what just happened few hours ago, I believe a small retracement will happen (reaching 1984?) before shooting upwards again. There is a Montly Resist up, that it might test-hit it.
Note: this is just an idea, not to be followed. Please make your own analysis first
Looking at the past of XAUUSD, It usually increases by a high amount (+- 18pip) followed by a fib retracement of 61-78% (most of the times, anyways), or decreases by a high amount and then retraces 50-61%. Based on what just happened few hours ago, I believe a small retracement will happen (reaching 1984?) before shooting upwards again. There is a Montly Resist up, that it might test-hit it.
Note: this is just an idea, not to be followed. Please make your own analysis first
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