XAUUSD Drop & Retrace? 27.03.2023
Gold has been experiencing high volatility the past week.
Overall has been gaining 8% change in value this month and has experiencing reversals in the process.
Today we see a sharp drop after a reversal in price signaling the opportunity to catch a retracement after the end of the move.
It might be soon but if the end of the move today is at the 100% Fibo level as depicted then traders can catch the retracement at least to 61.8% level.
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Information Regarding Important News and Figures can be found here in our Economic Calendar: mau.bdswiss.com/economic-calenda...
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BDSwiss is a trading name of BDS Markets and BDS Ltd.
BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene.
BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Tenancy 10, Marina House, Eden Island, Mahe. Payment transactions are managed by BDS Markets (Registration number: 143350).
Overall has been gaining 8% change in value this month and has experiencing reversals in the process.
Today we see a sharp drop after a reversal in price signaling the opportunity to catch a retracement after the end of the move.
It might be soon but if the end of the move today is at the 100% Fibo level as depicted then traders can catch the retracement at least to 61.8% level.
__________________________
Information Regarding Important News and Figures can be found here in our Economic Calendar: mau.bdswiss.com/economic-calenda...
Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure.
BDSwiss is a trading name of BDS Markets and BDS Ltd.
BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene.
BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Tenancy 10, Marina House, Eden Island, Mahe. Payment transactions are managed by BDS Markets (Registration number: 143350).
Further movement downwards would mean that the end of the move is probably 1935 price level. That is the 61.8% retracement of a larger H4 Timeframe Gold move upwards since 09.03.2023