What lies ahead for gold?
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
NZD/USD: should you buy the kiwi?
2019-11-11 • Updated
Recommendation:
BUY 0.6535
SL 0.648
TP1 0.6635 TP2 0.674 TP3 0.682
On the daily chart of NZD/USD, the 0.652 level (78.6% of the long-term upward wave) will determine the further direction of the pair. If bulls succeed, the pair will leave the downward channel and reach targets of the “Shark” pattern. If bears are luckier, the pair will move down to the 88.6% level and lower.
On H1, if the pair breaks the resistance at 0.6535, the correction will take place and odds of the “Shark” and “Wolfe Waves” patterns’ implementation will increase.
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