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XAUUSD approaching resistance, potential drop!

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
easyMarkets Broker  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Harmonic Patterns XAG USD ( Silver / US Dollar) XAG USD xagusdlong xagusdshort Forex forextrading forexsignals
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trendanalysis chartpattern harmonicpatterns xagusd xag usd xagusdlong xagusdshort forex forextrading forexsignals
XAUUSD is approaching our first resistance at 1214.51 (horizontal overlap resistance, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1192.67 (horizontal overlap support, 76.4% Fibonacci retracement).
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.


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