XAUUSD Potential for Bullish Rise | 9th September 2022
On H4, with the price breaking the descending trendline, we have a short term bullish bias that the price may rise from the buy entry at 1719.899, where the current price around to the take profit at 1730.482 area, which is in line with the overlap resistance, 50 % and 38% fibonacci retracement, as well as 100% fibonacci projection. Alternatively, as the price is still under ichimoku cloud, the price may drop to the stop loss at 1705.002, where the current swing low is.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
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