EUR/USD And Gold Could Head Lower

Published 12/22/2021, 06:10 AM
Updated 07/09/2023, 06:31 AM

There are no big changes for EUR/USD. We are still looking for an a-b-c rally within wave E of a higher degree wave 4), where wave »c« is still missing.

So, we may easily see a retest of 1.1320 – 1.1350 resistance area before a continuation lower for wave 5).

EUR/USD 1-hour chart.

Meanwhile, gold is in a complex a-b-c-x-a-b-c 7-swing corrective decline within wave B, where final wave »c« is still missing.

So, keep an eye on that strong $1775 support level that can be achieved before seeing another rally for wave C.

Gold hourly chart.

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