XAUUSD Update: Downside Rejection?
As you see in the 4H time frame, price is approaching to the resistance zone which is between 1789 - 1802.
As price is approaching to the resistance area, the bullish candles are weak and the bearish momentum is decreasing.
Moreover, we can see that price is moving on the ascending trend line.
We might see a rise to 1800 first, and then if price got rejected from this resistance area, I expect a breakout on the trend line and a drop towards 1753 and 1733.
According to todays’ U.S economical news, XAUUSD might have sharp movements. Be careful and trade safe!
As price is approaching to the resistance area, the bullish candles are weak and the bearish momentum is decreasing.
Moreover, we can see that price is moving on the ascending trend line.
We might see a rise to 1800 first, and then if price got rejected from this resistance area, I expect a breakout on the trend line and a drop towards 1753 and 1733.
According to todays’ U.S economical news, XAUUSD might have sharp movements. Be careful and trade safe!
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