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Gold Spot / U.S. Dollar
Short

XAUUSD headed down to new low? Gold in trouble?

By EuroMotif
Mod
Updated
Judging by the EW count and the Fib ratios, I think the downtrend will continue

I have several zones marked for possible support/target prices.

Here is my ''big picture'' view snapshot

And a close up of what I am hoping to see for the next leg down. snapshot
Note
Moving the right direction.
Now due for a bounce since a 12345 down wave is complete. looking for this snapshot
Note
Microscopic waves not going quite a expected, but in the right direction snapshot
Note
Maybe something like this snapshot
Elliott WaveFibonacciSupport and Resistance
EuroMotif
Mod
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