Gold continues to rise after the earlier upward reversal from the support area lying between the pivotal support level 1660.00 and the 50% Fibonacci retracement of the previous upward impulse (i).
The upward reversal from this support area created the daily candlestick reversal pattern Hammer – which started the active wave (b).
Gold is expected to rise further toward the next resistance level 1746.00 (top of the previous impulse wave (i)).
- GBPUSD reversed from support level 1.2495 - Likely to rise to resistance level 1.2625…
- EURUSD reversed from powerful support level 1.0350 - Likely to rise to resistance level…
- WTI broke daily Triangle - Likely to rise to resistance level 70.90 WTI crude…
- AUDUSD reversed from resistance level 0.6270 - Likely to fall to support level 0.6200…
- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…
- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…
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