Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1721.65). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 22.
Take Profits:
TP1= @ 1704.57
TP2= @ 1685.60
TP3= @ 1671.45
TP4= @ 1656.68
TP5= @ 1641.30
SL: Break Above R2
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ForecastCity English Support Team ❤️
. There is still a possibility of temporary retracement to suggested resistance line (1721.65). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 22.
Take Profits:
TP1= @ 1704.57
TP2= @ 1685.60
TP3= @ 1671.45
TP4= @ 1656.68
TP5= @ 1641.30
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️