Gold remains stuck near the $2025 level as traders react to PMI reports from developed countries. U.S. dollar is flat in a volatile trading session, and gold traders will have to wait for additional catalysts.
From the technical point of view, gold needs to settle above $2025 to have a chance to gain additional upside momentum.
XAU/USD composes a bearish flag, XAU/USD demands more active push down to confirm bearish flag breakout. A bearish flag represents a specific price action indicator that is used to signal a bearish price move if price breakdown occurs. XAU/USD to suffer a steeper decline to 2035 as bears looking for downside correction.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 2016.90 and holding below it.
From the technical point of view, gold needs to settle above $2025 to have a chance to gain additional upside momentum.
XAU/USD composes a bearish flag, XAU/USD demands more active push down to confirm bearish flag breakout. A bearish flag represents a specific price action indicator that is used to signal a bearish price move if price breakdown occurs. XAU/USD to suffer a steeper decline to 2035 as bears looking for downside correction.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 2016.90 and holding below it.