Gold (XAU/USD) is testing the 50% Fibonacci retracement level of a wave 4. A bearish bounce could confirm the wave 4 and indicate a bearish breakout as part of a wave 5. A bullish break above the 50% Fib and round level at $1250 however could indicate a bullish break back to the previous top. Check out our education & research page at ECS.
Check out the video for the full analysis and trade plans on November 2018:
EUR/USD, GBP/USD technical analysis
Review of patterns, trends, key S&R levels
Explanation of potential trade ideas both up and down
Beginner friendly, explaining concepts in more detail