Is Gold on the Rise Again?
Good day,
The price of gold has corrected from the recently achieved historical maximums. Currently, the asset’s price is about to pull from the uptrend and broken resistance zone formed between the psychological level of 1900.00 and historical maximum of 1920.50. So far, the currency pair indicates that it has the potential to target the recent maximums.
The price of Swiss franc has repeatedly pulled from the 0.9183 horizontal level. It should go over the downtrend line where it may keep heading down even further. As this is the line from the older timeframe, the asset might first pull back from it and only then break through.
The Russian ruble has repeatedly formed a bullish engulfing pattern next to the horizontal at the 72.20 level. The asset is currently trying to form the pattern resembling a flag. So far, we could assume that the currency pair might jump till the 75.50 level only.
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