XAU/USD - Market Update - 78.60% Major Fibonacci has been broken
XAU/USD - Market Update - 78.60% Major Fibonacci has been broken!
We were struggling all of last week with our Resistance of 1325.00. However; price couldn't break it's consolidated zone of 1312.50. Making another wave to the upside. We've broken our Major Fibonacci of 78.60% which means that we are expecting price to reach 1350.00 and possibly -ABOVE- by the end of this week.
Potential bearish movements are far away from happening unless we see price struggling with 1350.00 (If price does reach that area).
We were struggling all of last week with our Resistance of 1325.00. However; price couldn't break it's consolidated zone of 1312.50. Making another wave to the upside. We've broken our Major Fibonacci of 78.60% which means that we are expecting price to reach 1350.00 and possibly -ABOVE- by the end of this week.
Potential bearish movements are far away from happening unless we see price struggling with 1350.00 (If price does reach that area).