XAUUSD - Price trading inside strong bearish. Impulse Short entries can be taken once price retest the previous low region. Our sell limits are placed around that region.
The XAUUSD is extending its losses to three consecutive days, turning negative in the week, losing 0.85%. After climbing to a fresh three-month high at $1786, Gold is retracing, finishing the week around the $1750 region. Even though it’s an important milestone, XAUUSD could not capitalize much on US Dollar weakness. However, the Relative Strength Index slope is declining, suggesting that consolidation in the mid region of $1700-$1800 is highly likely, as buyers regain momentum, to challenge the $1800 psychological level. XAUUSD’s key resistance levels lie at $1786 region, followed by $1800, and the 200-day Exponential Moving Average (EMA) at $1802 region. On the other hand, XAUUSD support levels, the August 22 swing low at $1727.90, followed by the $1700 figure.
Potential short entry with following confirmations.
TP - Green Zone
SL - Red Zone
R:R Ratio - 1:2.51
✅ Oscillator downward trend
✅ Price out of EQ Cloud
✅ Trend catcher
✅ Bearish trendline downward channel
The XAUUSD is extending its losses to three consecutive days, turning negative in the week, losing 0.85%. After climbing to a fresh three-month high at $1786, Gold is retracing, finishing the week around the $1750 region. Even though it’s an important milestone, XAUUSD could not capitalize much on US Dollar weakness. However, the Relative Strength Index slope is declining, suggesting that consolidation in the mid region of $1700-$1800 is highly likely, as buyers regain momentum, to challenge the $1800 psychological level. XAUUSD’s key resistance levels lie at $1786 region, followed by $1800, and the 200-day Exponential Moving Average (EMA) at $1802 region. On the other hand, XAUUSD support levels, the August 22 swing low at $1727.90, followed by the $1700 figure.
Potential short entry with following confirmations.
TP - Green Zone
SL - Red Zone
R:R Ratio - 1:2.51
✅ Oscillator downward trend
✅ Price out of EQ Cloud
✅ Trend catcher
✅ Bearish trendline downward channel