The daily chart for
XAUUSD
shows the risk skews to the downside, as technical indicators aim marginally lower within negative levels. Still, the pair recovered above the 38.2% Fibonacci retracement of the daily advance between $1,810.41 and $2,009.34 at $1933.20, an immediate support level. At the same time, the intraday slide briefly pierced the 100 and 200 SMAs, which remain directionless, but
XAUUSD
currently trades above them. Finally, the 20 SMA remains directionless, far above the current level.
In the near term, and according to the 4-hour chart, the risk skews to the downside, as the pair trades below a bearish 20 SMA, while the 100 SMA remains above the shorter one. The 200 SMA, on the other hand, remains directionless below the current. Technical indicators, in the meantime, gain upward traction but with limited momentum and within negative levels, falling short of anticipating another leg north.
Support levels: 1,933.20 1,923.10 1,909.80
Resistance levels: 1,965.30 1,978.30 1,989.00
XAUUSD
shows the risk skews to the downside, as technical indicators aim marginally lower within negative levels. Still, the pair recovered above the 38.2% Fibonacci retracement of the daily advance between $1,810.41 and $2,009.34 at $1933.20, an immediate support level. At the same time, the intraday slide briefly pierced the 100 and 200 SMAs, which remain directionless, but
XAUUSD
currently trades above them. Finally, the 20 SMA remains directionless, far above the current level. In the near term, and according to the 4-hour chart, the risk skews to the downside, as the pair trades below a bearish 20 SMA, while the 100 SMA remains above the shorter one. The 200 SMA, on the other hand, remains directionless below the current. Technical indicators, in the meantime, gain upward traction but with limited momentum and within negative levels, falling short of anticipating another leg north.
Support levels: 1,933.20 1,923.10 1,909.80
Resistance levels: 1,965.30 1,978.30 1,989.00
🔴SELL watch Price range 1960$ - 1958$ - stoploss: 1964$
Buy price range 1934$ - 1936$ - stoploss: 1930$
Note: Full TP, SL to be safe and win the market ‼️