XAUUSD - 4H - correction to the upside
Last week we projected that Gold will move down, finds its daily cycle low and will start a new cycle. We posted our analysis on the local TV site. Gold moved down as projected and recovered a bit but it did not confirm that the low of this impulse is in. What we observe on the market is unpleasant cycle lenghtening. The certain moves that normaly would happen much faster, will be postponed without end in the current envirnoment. The only remedy for this is patience. Fortunately, with a bit of help, we can still try to project what will happen in between.
Theoretically we have three scenarios for the next week.
1. The price will stay in the range and then suddenly drop to the demand zone below.
2. The price will decline immidiately and recover in the course of the week.
3. The price will confirm its low and will start moving upward.
The gold chart is currently very difficult to analyse, however our algorithm suggests that the third scenario is the most possible. We have a target around 1920.
We hope that in the course of Monday's session, Gold chart will become more clear. We will post an update, once we see that different scenario has bigger probability.
Theoretically we have three scenarios for the next week.
1. The price will stay in the range and then suddenly drop to the demand zone below.
2. The price will decline immidiately and recover in the course of the week.
3. The price will confirm its low and will start moving upward.
The gold chart is currently very difficult to analyse, however our algorithm suggests that the third scenario is the most possible. We have a target around 1920.
We hope that in the course of Monday's session, Gold chart will become more clear. We will post an update, once we see that different scenario has bigger probability.
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