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: