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Tested resistance at 0. Gold Price - Gold prices fall following Fed rate hike. These are probably the last words one wants to hear when discussing any negotiations. More news for this symbol. A very calm day for the markets.
Related analysis GBP/USD
The drop it just had was a fake-out for the long term uptrend. Awesome Oscillator shows breaking of the bear and into the running of the bull coming. Tested resistance at 0. RSI at 50 can bounce any time.. Rejection candle on the previous support and also we can see that it is respecting the resistance also around that level. My speculation is that it will drop.
Thank you and hope we all can make money off this trade: This chart depicts hidden bearish divergence using trend lines to demonstrate a lower high in price with a higher high RSI indication. As the bears drop the price to form the lower high, the RSI is indicating that the price has become even more overbought than the previous high which could mean that the price could continue to drop further.
The RSI says, that the Support will be bought.. I see the risk increasing, that a further downwave could be initiated. Dxy potential will fall after re-testing descending channel resistance, this pair has also reached near to the descending channel whereas a lot of fib zone exists. The live forex rates on these pages are updated in realtime throughout the day. We are committed to keeping the data as accurate as possible, however it is supplied by external services.
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