There is a triangle formation on the XAUUSD
which is getting closer for a breakout. The bearish trendline
was tested three times and looks strong. In the next couple of hours we will see where gold
will head so wait for it and act accordingly. The next support is 1504 and if it breaks it will head to the psychological level of 1500 and test 1495. On the upside the resistance is 1515.