Gold Forecast: Potential Drop Ahead?
Gold tried to break the downtrend, but to no avail. After this attempt, long spike was still left. In principle, it might signify the potential drop of the asset’s price. Of course, gold might still manage to break the downtrend through, yet the asset’s price is likely to drop.
Oil remains below the level of 86.70, preparing for breakout. Although oil might also pull back, drop, and undergo a correction. However, oil price is currently supported by the uptrend next to it. All in all, it would be wise to check the price movements of oil next to the level of 86.70, and follow the candlestick formations.
The currency pair EUR/USD might pull from the downtrend and drop even further.
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