XAUUSD GOLD... Where to next?

4 thg 6, 2019

After breaking out of this daily falling wedge pattern, we have this huge impulse nearly filling the range of the recent daily high before the start of this wedge. Far too risky to hop on straight away so were going to wait for a retracement as we know gold can be very aggressive with impulses, retracements, etc. Expecting some sort of harsh rejection from where it is now, back down to 50% fib level of the falling wedge. If so, this will be the decider whether gold will eventually fill the entire range back up to major highs or whether we can see even more of a sell off in regards to NFP data later this week on Friday.