XAUUSD Time To Retest The Key Level
In the previous analysis of XAUUSD, I expected a rise to 1814 but price couldn’t break the 1800 and got rejected by the resistance level.
As you see in the 4H chart, we have a uptrend which has been tested the outer ascending trend line three times.
There is also an inner ascending trend line which has been broken out to the downside.
IF the bearish candle close below the inner trend line, we might expect that the price will retest the outer trend line and IF it got rejected by this dynamic support level (around 1770 - 1768), it might rise again and maybe this time will visit 1814.
On the other hand, IF the outer trend line broken out to the downside, we can expect a fall at least to the support level at (1758-1760)
What do you think about XAUUSD? Which side are you on?
As you see in the 4H chart, we have a uptrend which has been tested the outer ascending trend line three times.
There is also an inner ascending trend line which has been broken out to the downside.
IF the bearish candle close below the inner trend line, we might expect that the price will retest the outer trend line and IF it got rejected by this dynamic support level (around 1770 - 1768), it might rise again and maybe this time will visit 1814.
On the other hand, IF the outer trend line broken out to the downside, we can expect a fall at least to the support level at (1758-1760)
What do you think about XAUUSD? Which side are you on?
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