XAUUSD Weekly Chart Analysis

FX:XAUUSD   Gold Spot / U.S. Dollar
As you see, in the Weekly time frame we have an uptrend which is in the correction phase for now. Price has retraced more than 50% and is approaching to the strong support levels (1695.59, 1682.00 & 1657.00). IF this week’s candle closes below 1700, I expect the price to fall around one of the mentioned support levels and also retesting the ascending trend line (Be careful about the support level which is closer to the ascending trend line ). Moreover, MACD shows two positive divergences which is a very strong bullish signal for us. If there was any rejection by the support levels in lower time frames we can enter long after the first touch on the trend line .
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+6 Reply
totally agree important support zone thanks for sharing madam
+2 Reply
Mahtab_Tradia MMBTtrader
@MMBTtrader Appreciate your support 😊🙏🏻
1660 is expected and after that 1550.. btw nice TA
+1 Reply
Thanks for sharing your idea.
+1 Reply
Mahtab_Tradia Daniel_sha
@Daniel_sha 🙏🏼☺️
Very nice for your comment
+1 Reply
Mahtab_Tradia luckyrich7896
@luckyrich7896 your welcome
Nice work - some key areas around there. Here's a post we shared, supporting your bias -
+1 Reply
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