OANDA:XAUUSD   Gold Spot / U.S. Dollar


As long as maintains under the 1805 on weakened demand, and could have the possibility of taking a sell position at this area on light demand. A break back upside 1805 on strong demand would make me consider 1820, and then evaluate what's up with the volume up there. A break under 1790 would also be a good signs and entry for a buy aiming at 1780.


For now demand is showing weak signs of presence on the smaller time frame as well

Monthly

The 1800 area showed being an important resistance area in the past.
Supply has been in power since August last year, and even if did show some demand presence during May, it did fail again to break upside 1920 as last December. As for June finished the month on a bearish engulfing dropping from the 1920 area, for after in July having a retracement of it showing weakened supply. August did drag the price down to 1682, which were it got absorbed wicking the zone aggressively bringing back price to the 1800 area.


Weekly

Daily
Trade closed: target reached