Expected scenario for XAU/USD on DAILY Timeframe
We have the critical levels of 1750-55 as support and 1785-90 as resistance, which the price will attempt to target in our view.
Although the structure is bullish at the moment we wouldn’t want to go long unless we get a deep pullback, which we would like to see during the week. That higher resistance level needs to hold for the price to resume some form of correction.
Although the structure is bullish at the moment we wouldn’t want to go long unless we get a deep pullback, which we would like to see during the week. That higher resistance level needs to hold for the price to resume some form of correction.