theTAguy

GOLD long-term analysis!

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD has been following the Fibonacci Channel for quite a long time now. It already hit the 3.618 level on the channel. Now, it has tested the major resistance trendline (black one). It might test it again and then fall to the 4.618 level, which is around $1750.