XAUUSD Is resistance at $1872 still an obstacle?
🔸The 10-year US Treasury yield regained traction and rose to 4.6%, sending
XAUUSD
lower.
🔸USD hit a new 10-month high and continued to receive support from the longer-term Fed story, combined with the Fund's net selling of Gold, causing The consequences are more serious for Gold.
🔷The price range of 1900$ - 1903$ is quite nice to set up a Sell signal.
🔷The closest Buy entry Buyer is targeting is 1872$ - 1869$
🔷For BUY signals, you should only place short orders, it is not the time to hold long.
🔷If gold breaks out of the 1885$-1887$ price range and closes the candle in this area, Gold will continue its uptrend.
XAUUSD
lower. 🔸USD hit a new 10-month high and continued to receive support from the longer-term Fed story, combined with the Fund's net selling of Gold, causing The consequences are more serious for Gold.
🔷The price range of 1900$ - 1903$ is quite nice to set up a Sell signal.
🔷The closest Buy entry Buyer is targeting is 1872$ - 1869$
🔷For BUY signals, you should only place short orders, it is not the time to hold long.
🔷If gold breaks out of the 1885$-1887$ price range and closes the candle in this area, Gold will continue its uptrend.
Trade active:
The subdued range-bound price action, might still be categorized as a bearish consolidation phase and the lack of any buying interest suggests that the path of least resistance for the XAU/USD is to the downside.
Trade active:
In the current situation, Gold has not shown any signs of reversal, including frame D. All major supports have been broken, so the current deep price range needs to accumulate longer to be able to increase.
