XAU/USD falls as predicted, more decline ahead?
Hello traders, yesterday, I mentioned that Gold has a strong chance of falling
from the 1950 level after FOMC which is exactly what happened. So, cheers if you
made money shorting Gold.
📌Currently, you can notice a strong bearish daily candlestick with a long wick
at the top. This candlestick has formed at the top of the price channel.
📌A rejection has also happened at the 100-day exponential moving average level
which is very crucial. It indicates that the bulls have failed at this 100D EMA level.
📌This gives us a bearish bias in Gold. I recommend shorting the rallies in Gold
with targets at 1900, 1888 and 1835.
from the 1950 level after FOMC which is exactly what happened. So, cheers if you
made money shorting Gold.
📌Currently, you can notice a strong bearish daily candlestick with a long wick
at the top. This candlestick has formed at the top of the price channel.
📌A rejection has also happened at the 100-day exponential moving average level
which is very crucial. It indicates that the bulls have failed at this 100D EMA level.
📌This gives us a bearish bias in Gold. I recommend shorting the rallies in Gold
with targets at 1900, 1888 and 1835.
Comment:
If Gold pulls back near 1935-1940 again, I would consider adding new sell trades