Gold keeps forming an uptrend. On H4 the pair has formed a Hammer near the support level. If the signal for a reverse pattern is realized presently, we will, perhaps, see another growth of the price towards 1445.61. However, a reverse scenario is not to be excluded: the instrument may break through the lower border of the channel and test 1400.50.
On H4 the pair, upon testing the horizontal resistance level around 0.6800, has formed a Hanging man. In the current trading situation the price has realized the signal for a reverse pattern and is testing the support level. It may bounce off this level and return to 0.6800. A reverse scenario is not to be excluded: the rice may break through the current support level and decline to 0.6660.
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.