XAUUSD Gold Technical Analysis 03-02-2018
Gold is trading 1317 as of writing.
Price is below EMA 50 of the H4 Chart.
As seen in the H4 chart, Bullish Butterfly Pattern completed at 1.303. Price is testing the Fibonacci 38.2 of CD.
It is likely to test the trend line at 1323 – 1324.
If it breaks the trend line – 1.325 is the Fibonacci 61.8 – the next target will be 1331-1333.
If it fails to break, a retest of 1308 – 1304 seems possible.
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