Elliott Wave Analysis: GOLD Intraday View

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No change since yesterday on gold view. We see a completed wave 4 at yesterdays low from where sharp reaction back above 1300 now suggest that market is headed higher now into wave 5 of an extended wave 3). Short-term Fibonacci level is pointing to 1310/15 area.

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GOLD, 1H

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.