velmunis
Short

GOLDEN MOMENT IS SLOWLY FADING AWAY

OANDA:XAUUSD   Gold Spot / U.S. Dollar
GOLD

Though the risk sentiment on the gold has less investors. Amid corona virus fear the investors tend to invest in gold ,CHF,JPY as a safe heaven assets

After reaching the milestone level of 1700.00 a stronger bearish engulfing handle has formed in 4 hour chart
its almost lost 2000 pips in the span of 9 days

Further downward momentum will persist in coming days

We can expect short term bounce towards 1550-1560 level which is also a 78.6% Fibonacci

From this level we can short this pair and the potential take profit will be 1487.00

Stop lose may placed above 1595.00 level

Please leave your valuable comments below
Trade active: The primary target was acheived..and it's running towards 1486.00 level
Trade closed: target reached

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