FX:XAUUSD   Gold Spot / U.S. Dollar
Fresh Gold analysis on the 4hr after completing our recent trade. A more technical approach.. Price is currently at our resistance area (we can see over time how price reacts to $1510-1515) Bulls over the past 4 months have been struggling to close above this area but if they can, then we could see yearly highs get retested. Alternatively, if bulls fail we could fall back into the ascending channel which was formed back in June, that was recently made valid again with price consolidating within it. Or if this channel is broke i've higlighted my drop back zone, with further drops expected. Will be watching price action carefully
Disclaimer

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.