Trade with care and caution at this stage.
The best thing to do now is be patient and wait for the charts to line up and give a more clear picture.
Attached are a 4Hr Gold and EurUsd chart.
The area to watch is @ 1.4960. It's the bottom of the bullish channel and I expect a bounce from that area, but Gold is looking a bit bearish and I don't feel comfortable where it is currently. The current 4Hr candle on EurUsd is also looking bearish.
I'll rather wait to see what price will do at the 1.4960 area and if Gold will turn bullish. Otherwise I'll just sit this one out.
The best thing to do now is be patient and wait for the charts to line up and give a more clear picture.
Attached are a 4Hr Gold and EurUsd chart.
The area to watch is @ 1.4960. It's the bottom of the bullish channel and I expect a bounce from that area, but Gold is looking a bit bearish and I don't feel comfortable where it is currently. The current 4Hr candle on EurUsd is also looking bearish.
I'll rather wait to see what price will do at the 1.4960 area and if Gold will turn bullish. Otherwise I'll just sit this one out.
Attached Image