Last week, XAGUSD managed to break above the 33.15 resistance level, making a local high at 33.70.
However, the price quickly reversed and formed an Evening Star candlestick pattern, signaling selling pressure.
At the time of writing, the price is hovering around 33.00 – a key pivot point for the next move.
The bias leans toward a downside continuation:
- A clear break below 33.00 opens the way for a further drop toward 32.00,
- With a potential final target at 31.00.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
However, the price quickly reversed and formed an Evening Star candlestick pattern, signaling selling pressure.
At the time of writing, the price is hovering around 33.00 – a key pivot point for the next move.
The bias leans toward a downside continuation:
- A clear break below 33.00 opens the way for a further drop toward 32.00,
- With a potential final target at 31.00.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Trade active
32 first target zone was hit
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.