XAUUSD What's happening?
After Friday's doji prices are falling but got a good support at 1705.
Prices may take a downway to 1678 approx. which holds a strong support, if broke this then we may be seeing 1640 levels or may be all the way back to 1600 AGAIN!!!! but this have low chances due to the bullish pattern. So, 1670-1680 will be a good place to buy gold again with a target of 1740.
AND IF WE SEE A BULLISH CANDLE TODAY OR IN THIS WEEK WITH 1706 SUPPORT HOLDING. THEN THERE ARE HIGH CHANCES THAT IT WILL BE THE REVERSAL AND END OF THIS SHORT TERM BEARISH TREND. THEN ALSO 1740 TARGET WILL HOLD AND BREAKING OF 1740 WILL LEAD TO 1760 (THIS WILL HAPPEN SOON OR LATER!).
FInally, stay in buy for gold for now if have any open positions let then running, It will move up definitely within a week or two or maybe this weeks end (most probably from Thursday if today's closing come below 1713).
SO, be neutral in gold now. (DAY PERSPECTIVE)
AND MACD GIVING SELL SIGNAL SO CAN TAKE A SHORT SELL FOR 1670 TARGET
Prices may take a downway to 1678 approx. which holds a strong support, if broke this then we may be seeing 1640 levels or may be all the way back to 1600 AGAIN!!!! but this have low chances due to the bullish pattern. So, 1670-1680 will be a good place to buy gold again with a target of 1740.
AND IF WE SEE A BULLISH CANDLE TODAY OR IN THIS WEEK WITH 1706 SUPPORT HOLDING. THEN THERE ARE HIGH CHANCES THAT IT WILL BE THE REVERSAL AND END OF THIS SHORT TERM BEARISH TREND. THEN ALSO 1740 TARGET WILL HOLD AND BREAKING OF 1740 WILL LEAD TO 1760 (THIS WILL HAPPEN SOON OR LATER!).
FInally, stay in buy for gold for now if have any open positions let then running, It will move up definitely within a week or two or maybe this weeks end (most probably from Thursday if today's closing come below 1713).
SO, be neutral in gold now. (DAY PERSPECTIVE)
AND MACD GIVING SELL SIGNAL SO CAN TAKE A SHORT SELL FOR 1670 TARGET
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