GOLD Uptrend Should Continue at the Break of 1- 2-3 Pattern
|The GOLD has made a move above the channel on H1 timeframe. We should see a continuation above point 2 of 1-2-3 pattern.
A bounce above 1556.60 should make the price go higher towards 1575 and 1585 zone. However, we need to see a momentum to the upside and it will also depend on the NFP result today. Worse than expected result should send the GOLD higher. Whatever the case might be with the NFP a break of 1556 will be bullish and only the NFP could mess up with the GOLD bulls on Friday.
The analysis has been done with the CAMMACD.Core System.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.