Gold keeps forming an ascending trend. On H4 the instrument has formed a Dark Cloud Cover at the horizontal resistance level. Currently, we are contemplating the signal for a reverse pattern start realizing. In case of further decline the price may reach 1385.27. At the same time a reverse scenario is not impossible: a breakthrough of the resistance line and a renewal of the maximum of 1441.75 may follow.
On H4 the pair formed a Harami upon testing the horizontal resistance level at 0.6730. In the present situation a realization of the signal for a reverse pattern is not highly possible; further growth and testing of the next resistance level at 0.6800 are more likely. What is more, a vice versa scenario is not to be excluded: a bounce off the resistance line and a drop to 0.6662 may follow.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.