ANALYSIS OF XAUUSD ON H1 TIMEFRAME - 6/9/2023
- XAUUSD is in a downtrend.
- Currently, XAUUSD is approaching a strong support zone at 1917-1924.
- If the buying side gains control in this area, the price may rise and retest the previous resistance at 1935-1941. We can consider selling at that point.
- We prioritize looking for selling opportunities, waiting for a pullback, and exercising patience.
- Currently, XAUUSD is approaching a strong support zone at 1917-1924.
- If the buying side gains control in this area, the price may rise and retest the previous resistance at 1935-1941. We can consider selling at that point.
- We prioritize looking for selling opportunities, waiting for a pullback, and exercising patience.