XAUUSD: Continues to fall further
Hello dear friends, nice to meet you in today's gold price race!
Today, gold has not changed much, mainly fluctuating around the $2600 mark, and the downtrend is still dominant.
The metal is under pressure as the USD starts to regain strength. On the analytical chart, the price has dropped below the support level of $2625. The 4-hour chart shows the possibility of this downtrend continuing soon. With the acceptance of the falling wedge resistance and the reaction at the EMA 34 confirmed, we may not see any significant support until $2575.
How do you think gold will perform in the coming time?
Today, gold has not changed much, mainly fluctuating around the $2600 mark, and the downtrend is still dominant.
The metal is under pressure as the USD starts to regain strength. On the analytical chart, the price has dropped below the support level of $2625. The 4-hour chart shows the possibility of this downtrend continuing soon. With the acceptance of the falling wedge resistance and the reaction at the EMA 34 confirmed, we may not see any significant support until $2575.
How do you think gold will perform in the coming time?
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