XAUUSD 4H CHART TECHNICAL ANALYSIS
The XAUUSD 4h chart shows the following signs:
The XAUUSD exists in an almost symmetrical triangle from 14 April 2014 . Target remains neutral this week expecting the behavior of the XAUUSD in relation with this triangle. Usually when the price cross over the triangle before the 65% of its length the movement continues the long term trend (short for the current study). If the price cross over the triangle after covering the 70% of its length the long term trend reversals (long for the current study).
If the price breaks 1280 would be a short signal, but above 1310 would be a long.
The XAUUSD exists in an almost symmetrical triangle from 14 April 2014 . Target remains neutral this week expecting the behavior of the XAUUSD in relation with this triangle. Usually when the price cross over the triangle before the 65% of its length the movement continues the long term trend (short for the current study). If the price cross over the triangle after covering the 70% of its length the long term trend reversals (long for the current study).
If the price breaks 1280 would be a short signal, but above 1310 would be a long.
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