XAUUSD H4 - Short Signal

FX:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD H4 - May look a little bit messy on the face of things, but from swing low data 03/11 up towards swing high dated 16/11, we have started to correct, TP seen from recent analysis yesterday before then climbing higher, but this falls short of our 382, we have since seen a pullback to our H4 break and retest zone (that we have yet to have). From current price, if we see a bounce off DXY support (105 ish) we could see XAU fall further downside towards our 618 target price of $1680. Concerns over this on a fundamental front based on recent headline "The Fed concluded it will "soon be appropriate" to reduce the pace of rate increases, minutes of the November meeting showed. At the same time, some officials noted that the peak rate will be "somewhat higher" than previously expected.". But on a technical front it looks attractive, lets see how the dollar support holds, this may be an opportunity if resistance holds here and DXY D1 support holds.

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