Whats After Cup and Handle XAUUSD
The answer check , CORNUSD and USDZAR on weekly chart , huge reversal preparing for another taking off 1500 -1600 zone or stay confined 1340-1280.
The analysis is forecast for MA 50 and MA200 support and reversal on MA 50 now and analogy to last year April to June 2018 reversal.
In summary Fundamentals Gold shot from 1240-1280-13240 Based on Trade deal fall out , this is due fix now , at least fake deal for crossing election deadline purpose on Nov 2020 (same like fake Iran deal).
Second reason gold shot 1340 to 1440 was the FED cutting rates and I believe FED will cut rate same like Europe cutting rate and Australia Banks. So second reason is fixed however both fix is temporary , politicians are kids tricks and economists know that. They will be in waiting zone for both scenarios Safe Zone ready to bounce is 1340-1380 XAUUSD. its going to be huge oscillations on this zones and mostly bigger boys playing with lower as much as possible.
Happy Trading
The analysis is forecast for MA 50 and MA200 support and reversal on MA 50 now and analogy to last year April to June 2018 reversal.
In summary Fundamentals Gold shot from 1240-1280-13240 Based on Trade deal fall out , this is due fix now , at least fake deal for crossing election deadline purpose on Nov 2020 (same like fake Iran deal).
Second reason gold shot 1340 to 1440 was the FED cutting rates and I believe FED will cut rate same like Europe cutting rate and Australia Banks. So second reason is fixed however both fix is temporary , politicians are kids tricks and economists know that. They will be in waiting zone for both scenarios Safe Zone ready to bounce is 1340-1380 XAUUSD. its going to be huge oscillations on this zones and mostly bigger boys playing with lower as much as possible.
Happy Trading
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Cup and Handle on USDZAR followed by reversal