XAUUSD Bearish Structure

FX:XAUUSD   Gold Spot / U.S. Dollar
As you see in the Daily time frame, we have a downtrend with a bearish structure. Price failed to break the last high to make a higher high and was pushed to the downside.

Moreover, the yesterday’s candle has engulfed the day before and has made a bearish reversal pattern, and we can see the bearish pressure on today’s candle either.

If price breaks the yesterday’s low at 1841 and closes a bearish candle below this level in 4H or 1H time frame, I expect a drop on XAUUSD towards the next major low (1811 and 1787)

Join My Telegram Channel:

Follow My Instagram:

My Recommended Forex Funding Program:

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.