Mahtab_Tradia

XAUUSD Correction Phase Begins?

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
As you see in the daily chart of XAUUSD, after a rise to 1916 which is a resistance level, price stopped growing and couldn’t break the resistance to rise more.

MACD shows a negative regular divergence: although price has made higher highs in the uptrend, MACD could not make higher highs and currently it is in the negative phase.

If price comes lower and closes below the support level around 1860-1865 (S1), I expect a downside retrace for price and a fall to the demand zone around 1830-1815 and if there was any upside push by this area, we can expect a rise in price again.

Otherwise, if price falls more and break down the 1815, we can expect more fall to the second support level around 1766 (S2).

Join My Telegram Channel:
t.me/Tradia_Channel

Follow My Instagram:
Mahtab_Tradia

My YouTube Channel:
youtube.com/channel/UCLVMX3VGgdo8d02jF99SihQ
Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.