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FahimLatif
Jun 9, 2019 4:54 PM

Possible reversal on XAUUSD Short

Gold/U.S. DollarFXCM

Description

After the massive spike on the pair, Gold has found resistance at the 1345 price region. Market pushed up again but breakout of this region wasn't successful, giving us a nice divergency on the RSI indicating a possible bearish market coming in. However, I won't personally go short on this pair until it drops below 1337$. Breakout of this price also means breakout of the 1h trendline and S/R level formed recently. Decent r:r, targeting the 38.2 Fib level (1321)
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