Dmitriy Gurkovskiy | Sep 07, 2020 11:56
XAU/USD
On H4, the quotations keep narrowing, forming a Triangle. This movement should be interpreted as a correction after a swift uptrend and a divergence. The Triangle is forming around 23.6% Fibo. A breakaway of the lower border of the Triangle may provoke another wave of a deeper decline, which may be aimed at 38.2% (1836.50), 50.0% (1762.92), and 61.8% (1689.50). The resistance is still at 2074.75.
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