XAUUSD is forming a Head and Shoulders pattern on the 4H time frame with 4H technicals neutral (RSI = 51.658, MACD = 2.180, ADX = 22.110). The 4H MA50 has already broken and negated as Support, the 4h RSI is approaching the top of its Channel Down and the 1D MA50 is about to enter into the S1 Zone (1,890 - 1,900). Being above the 0.618 Fibonacci retracement level of the March rally, the top of the zone is our Target (TP = 1,900). If the price crosses over the 2,010 Resistance we will take the loss and buy aiming at the -0.236 Fibonacci extension (TP = 2,050).
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.