Any out there who wants to short gold, consider XAU/EUR. It seems to be creating a head and shoulders pattern on the hourly chart.
EUR/USD's daily chart is flashing bullish conditions. Meanwhile, markets have already priced in three Fed rate cuts for 2019. So upside in Gold ($) looks limited. Hence, GOLD/EUR looks overdue for a price pullback.
A break below the neckline support of 1181 would open the doors to 1170-1165.
EUR/USD's daily chart is flashing bullish conditions. Meanwhile, markets have already priced in three Fed rate cuts for 2019. So upside in Gold ($) looks limited. Hence, GOLD/EUR looks overdue for a price pullback.
A break below the neckline support of 1181 would open the doors to 1170-1165.