Continuation of the downtrend XAUUSD
The downward trend that existed in the high timeframes continues. There is no hope for the gold trend to rise.
Traders seem to have preferred to buy bitcoin over gold.
However, if the price of gold enters the yellow range, we must wait for it to fall.
Of course, the currency pair XAU/USD will definitely make improvements. For example, it may reach the previous peak. Or it may even go higher than the previous peak. But it is unlikely that the price will reach the blue range.
Anyway, my suggestion is the short position in the market.
Traders seem to have preferred to buy bitcoin over gold.
However, if the price of gold enters the yellow range, we must wait for it to fall.
Of course, the currency pair XAU/USD will definitely make improvements. For example, it may reach the previous peak. Or it may even go higher than the previous peak. But it is unlikely that the price will reach the blue range.
Anyway, my suggestion is the short position in the market.
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