TradingView
dainiushka
May 4, 2022 2:30 PM

XAUUSD, target the range bottom Short

GoldOANDA

Description

Gold rejected the top of all time high with hammer candle on week time frame, rejected 50 ema on day time frame. Bounce off 50 ema on week time frame. If gold break down the 200 ema on one day time frame, and the candle will close below 200 ema at the end of session, it will be good opportunity to short. Target is 100 ema on week time frame, if brake down, target will be the blue range bottom line. Fda decision is coming. If FDA will be hawkish, bond yield will rise and gold should fall, because gold and bond yield has inverse correlation.
More