Profitlio_Trading

XAUUSD will drop further to find a strong support 1785 then 1765

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Market Instrument: XAUUSD
Timeframe: H4
Analysis: Technical
Structure: Support and Trend line Breakout
Prediction: Bearish

We have seen a strong bearish follow in gold prices recently where the picked up trend line on H4 has now breached with a strong move to the downside. Here I believe the next strong support is holding close to the 1760 area. If the bearish pressure remains stronger we will see a further drop following 1785 then 1765 accordingly.

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