At present, the primary direction of GOLD is heading downwards. This can be substantiated by observing the lower highs and lower lows across multiple timeframes. The price is adhering to the 34 EMA (Exponential Moving Average) and following a parallel symmetrical downtrend pattern.
Looking at the long-term perspective, it is expected that gold will experience a further drop to around 1870 USD. Consequently, selling remains the main strategy to focus on.
It would be prudent to wait for gold to undergo a correction towards the confluence of EMA + Keylevel H4 before placing any orders.
Looking at the long-term perspective, it is expected that gold will experience a further drop to around 1870 USD. Consequently, selling remains the main strategy to focus on.
It would be prudent to wait for gold to undergo a correction towards the confluence of EMA + Keylevel H4 before placing any orders.
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