In my Friday post, I mentioned that I'm cautiously bearish on 
XAUUSD, highlighting the possibility of a descending triangle forming.
Indeed, the price once again failed to break above the descending trendline and closed the day just above the horizontal support of the triangle.
Today, as the market opens and the Asian session begins, we observe a break below the support level, with the price currently trading at 2146 at the time of writing.
From a technical standpoint, the short-term chart indicates a bearish trend, with the measured target for the triangle pattern at 2105. However, considering the strongly bullish long-term trend, I anticipate more of a drop towards the 2120 zone.
The bearish scenario will be invalidated if the price manages to close back above the 2150 zone today.
XAUUSD, highlighting the possibility of a descending triangle forming. Indeed, the price once again failed to break above the descending trendline and closed the day just above the horizontal support of the triangle.
Today, as the market opens and the Asian session begins, we observe a break below the support level, with the price currently trading at 2146 at the time of writing.
From a technical standpoint, the short-term chart indicates a bearish trend, with the measured target for the triangle pattern at 2105. However, considering the strongly bullish long-term trend, I anticipate more of a drop towards the 2120 zone.
The bearish scenario will be invalidated if the price manages to close back above the 2150 zone today.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Pubblicazioni correlate
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.