Monthly chart: key resistance is - 1.40 ( Bollinger's upper band). Bulls determination is very strong, so we will either face a breakdown and further growth to 1.4964 or retracement of euro to the middle band to accumulate its potential (1.3627).
Weekly chart: ADX is in the area of activity, so we are waiting for a breakthrough 1.3845 and attack of 1.40. There is a high probability that attack will succeed because pressure of buyers is very strong.
Day chart: here ADX potential is low which means that we will have a chance to join purchases in the area of the middle band (1.3656)
Conclusion: main plan is a rollback from 1.3845 to 1.3656 and lift off to 1.40. Another option is a direct growth to 1.40 and consolidation above 1.40, with growth potential in the middle run to 1.49-1.50.
Monthly chart: resistance 1.7051 is ready to take breakthrough, because a significant pressure from ADX is coming. Upon that, it is clear that this level is rather complex, with characteristics of pivot, so a rollback to the area of weekly middle band is possible (1.6320). Bulls' goal is 1.91.
Weekly chart: here resistance 1.6778 is able to move the pair back to 1.6320. Wait for signals for purchase from this very area.
Conclusion: main plan is the rollback from 1.6778 to the area 1.6320 and continuation of growth.
Another option is -growth to 1.6860, breakthrough and growth to 1.7050.
Monthly chart: Despite a clearly indicated diagnostic level for a possible reversal (in the form of Bollinger's middle band (1478.00)), downtrend seems to continue here. Meanwhile, everything implies that the pair will go down upon touching this area. Still, you should not place Stop orders to far from 1478, because there bulls would have received a reversal potential. If decline is confirmed (rollback from 1478 is marked by a, b is the breaking of resistance 1194), we will see that the gold has all chances to cheap down to 907 USD. A counterweight to drop is a solid advantage of bulls in Euro and Pound. Therefore, “blue” scenario is equal to “red”.
Weekly chart: the pair is within a flat channel 1194.61-1349.17. Now there are all chances for the pair to stay within a corridor over entire week. But we have to track how the price behaves on the boundary of the range. Strength of ADX can confuse, so breakthrough is possible and main efforts will be dedicated to making a breakthrough.
Day chart: here a local uptrend is fully active with support marked at the point of 1297.29, where new strong signals can occur for buying to 1478.
Conclusion: main scenario is a growth to 1478.00 Another option is a rollback from resistance 1349.17 to 1194.61
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us