Saturday , October 20 2018
Home » Technical Analysis » Commodities » XAU/USD, looking for a rebound to Wave 4

XAU/USD, looking for a rebound to Wave 4

XAU/USD, looking for a rebound to Wave 4

Gold lost its strength vs. the greenback for a upward momentum since April/2018  and in a technical point of view, I am the opinion that the W3 has been now well established and a rebound to W4 has been forming now.

  • Possible level to reach for a re-bounce could be to see at 1240.xx level
  • Further up-move could also be at 125x.xx level
  • A breakout of the upper yellow trend-line, I will look then for a further upside but limit it to 128x.xx

 

Take your look at the below depicted charts for more reference.

 

 

Limit to 128x.xx at the current cycle:

Trade well!

 

 

About m2m

Check Also

Europe roundup: Sterling rebounds on Brexit deal hopes, Euro gains as euro zone current account surplus widens, European shares ease on EU’s budget warning – Friday, October 19th, 2018

Europe roundup: Sterling rebounds on Brexit deal hopes, Euro gains as euro zone current account …

Asia roundup: antipodeans nudge up despite mixed Chinese data, Dollar gains against Yen Amid tightening in U.S. labor market conditions, Asian shares plunge – Friday, October 19th, 2018

Asia roundup: antipodeans nudge up despite mixed Chinese data, Dollar gains against Yen Amid tightening …

Leave a Reply

Your email address will not be published. Required fields are marked *