Gold is facing difficulty in finding a clear direction as the market remains indecisive due to conflicting signals regarding US debt extension talks and the US Federal Reserve.
Currently, the market is struggling around the key short-term support line near $1,955, and the XAU/USD daily chart suggests a bearish extension.
The risk is also leaning towards the downside in the short term, as the pair trades below all its moving averages, and technical indicators are declining.
It is crucial to watch out for a potential breakout below the price zone of $1950, as it could trigger a strong downtrend. My goal is 1945$ - 1940$ - 1935$
Currently, the market is struggling around the key short-term support line near $1,955, and the XAU/USD daily chart suggests a bearish extension.
The risk is also leaning towards the downside in the short term, as the pair trades below all its moving averages, and technical indicators are declining.
It is crucial to watch out for a potential breakout below the price zone of $1950, as it could trigger a strong downtrend. My goal is 1945$ - 1940$ - 1935$
Trade active
Trade active:
SELL BREAKOUT 1950=> 1940. +100pips ✅✅✅
Prices rose slightly and fell. Currently going back to retest the 1955 price area as the drawing plan
Prices rose slightly and fell. Currently going back to retest the 1955 price area as the drawing plan
Trade closed: target reached:
OK Tp
