As I expected in my previous analyses for XAUUSD, price had a good drop in the last week.
We can see price is facing a bearish pressure and the main trend is a downtrend.
Currently, price is retesting the resistance zone around (1800 - 1805), and the last major low is at 1782.45
If price breaks the last major low (1782.45) to the downside and closes a bearish candle below this level, after the price retest, we can expect a drop to 1770 and 1752.
What is your outlook for XAUUSD this week?
Feel free to share your ideas in the comments.
We can see price is facing a bearish pressure and the main trend is a downtrend.
Currently, price is retesting the resistance zone around (1800 - 1805), and the last major low is at 1782.45
If price breaks the last major low (1782.45) to the downside and closes a bearish candle below this level, after the price retest, we can expect a drop to 1770 and 1752.
What is your outlook for XAUUSD this week?
Feel free to share your ideas in the comments.
Note
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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.
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.