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WealthCreationFX
Sep 20, 2022 12:09 PM

SELL XAUUSD Short

GoldOANDA

Description

My perspective on GOLD. Last week a strengthened US Dollar caused XAUUSD to slip below a yearly low which was last visited 9 Aug 2021. Technically, Gold is on an overall structure of a Monarch Pattern/Bearish Bat on large timeframe (W1&M1). We observed strong bearish movement which resulted in a breakout on support line(1680). The breakout is currently in retest and if you observe on H4, there is a double top on 1680, thus confirming a possible push to the downside for the next few weeks at least.
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