Target: 1405.00
Risk: 1303.62
Technical reasons:
Gold price moves inside a major ascending channel that signals more gains for price to achieve, targeting 1405.00 areas as a main target.
The recent trades are confined inside a falling wedge pattern that has positive nature, thus, all we need is a breach to 1336.55 to trigger the positive effect of this pattern to get a positive motive that pushes the price towards our waited target.
MACD provides positive signals that support the expected rise, and the price needs to get rid of the negative pressure that comes by the exponential moving averages 50 and 100 to confirm the continuation of the main bullish trend.
www.fxhighway.com
www.facebook.com/fxhighwaycom/
twitter.com/
FXHighway mobile App:
Android: play.google.com...re/apps/details?id=com.fxh...
IOS: itunes.apple.co...wa/viewSoftware?id=1071234...
Risk: 1303.62
Technical reasons:
Gold price moves inside a major ascending channel that signals more gains for price to achieve, targeting 1405.00 areas as a main target.
The recent trades are confined inside a falling wedge pattern that has positive nature, thus, all we need is a breach to 1336.55 to trigger the positive effect of this pattern to get a positive motive that pushes the price towards our waited target.
MACD provides positive signals that support the expected rise, and the price needs to get rid of the negative pressure that comes by the exponential moving averages 50 and 100 to confirm the continuation of the main bullish trend.
www.fxhighway.com
www.facebook.com/fxhighwaycom/
twitter.com/
FXHighway mobile App:
Android: play.google.com...re/apps/details?id=com.fxh...
IOS: itunes.apple.co...wa/viewSoftware?id=1071234...