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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!

 

 

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