XAUUSD is showing an interesting constellation in the form of a shoulder-head-shoulder formation at the end of the current price action on the 24-hour chart. It is currently most likely that the gold price will fall as a result and return to a target area of USD 1880. The prerequisite for this scenario is that the orange average price in the upper chart is consistently undershot, which could take a few more days (up to a maximum of two weeks).
However, should the price of GOLD exceed the blue average at currently USD 1980, this scenario would be invalid and a new cycle with rising prices would be announced. This is again supported by the positive indicator situation in the lower area of the chart.
However, should the price of GOLD exceed the blue average at currently USD 1980, this scenario would be invalid and a new cycle with rising prices would be announced. This is again supported by the positive indicator situation in the lower area of the chart.
