XAUEUR Long SetupXAUEUR, price is currently in a rising channel and looks to be heading back to the 50 Fibonacci level and lower trend line of the channel. PRZ's are marked out and be mindful of the possibility that PA can go to the PRZ at the 61.8 Fibanccia level. With this in mind SL has been placed below it.
XAUEURG trade ideas
XAU/EUR weekly analysisAlthough this forecast might take months to be accomplished the pair is most likely to behave one of the following ways.
Either it goes down to the trendline of the pattern, consolidate and make a big move down.
Or it goes down to the trendline of the pattern, consolidate and make one last move up before going down.
I think we will have to come back to this chart in a year to see the outcome.