Bearish Outlook XAUUSD: Potential Break Below Low 2010.
Hi there,
XAUUSD is potentially bearish at the 3-hourly time frame. The price is currently challenging the 2066.63 area, but our bearish objective is the break of the 2010.70 area.
If the price rises above the 2086.89 LH, that will invalidate the setup because a lower high typically leads to a series of lower lows.
The first desired target area is 1970.32, and the bias is towards Demand Zone 1920.
Wishing you a good week.
K.
XAUUSD is potentially bearish at the 3-hourly time frame. The price is currently challenging the 2066.63 area, but our bearish objective is the break of the 2010.70 area.
If the price rises above the 2086.89 LH, that will invalidate the setup because a lower high typically leads to a series of lower lows.
The first desired target area is 1970.32, and the bias is towards Demand Zone 1920.
Wishing you a good week.
K.
The price is bearish for Gold with a strong resistance now at 2055.98