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subtlepapi

$XAUUSD - Consolidating/squeezing

Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
subtlepapi  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators squeeze consolidation consolidationzone consolidation-breakout Technical Analysis scenario goldidea Gold goldtrading
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trendanalysis chartpattern indicator squeeze consolidation consolidationzone consolidation-breakout technicalanalysis scenario goldidea gold goldtrading
Analysis
We are seeing a reset on the indicators are price is being squeezed between the 1M 20EMA and 1M 50EMA.

Scenario 1:
There is strong support at $1650 and it will needfind support at least 1 more time (perhaps twice) before it continues upwards to all time highs (+15)

Scenario 2:
If price breaks below 50EMA we could potential see a drop (-23%) with little support below.
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