$XAUUSD Technical Analysis - Daily Perspective - 12/09
ππ» In the preceding week, gold exhibited a bearish trend, declining from 1992 to 1937 and displaying altered characteristics across various timeframes.
π The current observation suggests a corrective movement, as the price appears to have filled the imbalance created on October 18, addressing the gap and retracing from the preceding swing high to the initial Fibonacci level of 0.382.
β The established support zone within the range of 1938-1944 remains pertinent. Anticipation revolves around a potential continuation to the upside or the establishment of a trading range between the aforementioned zones in the coming week.
π Maintaining a bullish trajectory on the daily timeframe, it is plausible to consider the recent retracement as the anticipated pullback following the previous upward rally.
π€ For the upcoming week, two scenarios merit consideration.
βοΈ Exercise due discretion when incorporating this technical analysis into your decision-making process. Your independent evaluation is encouraged based on the insights provided.
π€ If you find value in this technical analysis, kindly consider following for future updates and amplify this post to broaden its reach. Your support is appreciated.
π The current observation suggests a corrective movement, as the price appears to have filled the imbalance created on October 18, addressing the gap and retracing from the preceding swing high to the initial Fibonacci level of 0.382.
β The established support zone within the range of 1938-1944 remains pertinent. Anticipation revolves around a potential continuation to the upside or the establishment of a trading range between the aforementioned zones in the coming week.
π Maintaining a bullish trajectory on the daily timeframe, it is plausible to consider the recent retracement as the anticipated pullback following the previous upward rally.
π€ For the upcoming week, two scenarios merit consideration.
βοΈ Exercise due discretion when incorporating this technical analysis into your decision-making process. Your independent evaluation is encouraged based on the insights provided.
π€ If you find value in this technical analysis, kindly consider following for future updates and amplify this post to broaden its reach. Your support is appreciated.
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