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TradingAlchemist
Nov 1, 2021 10:35 AM

XAUUSD🤑Decline before rise📈 Short

Gold / U.S. DollarFOREX.com

Description

Gold completes the trading week near the area of ​​1795. The XAU / USD quotes continue to move as part of a slight rise and the formation of a “Head and Shoulders” reversal pattern. Moving averages indicate a bearish trend for Gold. Prices have broken the area between the signal lines upwards, which indicates pressure from buyers and a potential continuation of the price rise. At the moment, we should expect an attempt to develop a decline in prices and a test of the support level near the 1735 area. Further, the continued growth of the GOLD price with a potential target above the level of 2035.

Have a nice trade!
Comments
TradingAlchemist
Do you agree?
FxDollarZar
Mihai_Iacob
excellent!
MagthunderFX
same idea
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