Mahtab_Tradia

XAUUSD: Resistance Approach

FX:XAUUSD   Gold Spot / U.S. Dollar
As you see in the chart, price has approached to 1850 - 1858 which is the resistance zone and is struggling to break it.

The main trend is still bearish , but on the other hand, we can see the bullish pressure in the market, and price has made a higher high and higher low.

If the red resistance zone broken to the upside and a bullish 4H candle closed above this level, we can expect a rise on XAUUSD towards the next high around 1888, otherwise, if price gets rejected from the resistance, it will drop.

Personally, I am on the bullish side for XAUUSD this week. What about you?

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