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As GOLD Falls to a New, 6-Year Low, The Dollar Climbs to a New, 12-Year High

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    From my technical perspective, the enclosed longer-term weekly chart exhibits two salient aspects: 1) that continued weakness beneath $1085 represents, so far, a sustained breach breach of the exact 50% retracement support zone of the entire 1999-2011 Bull Market... and 2) that the price structure appears to be heading for one of three potential downside targets created by lower-channel boundary lines derived from the Sep 2011 and Oct 2012 highs. These downside targets are: $1000... $960.00...

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