Now or never for XAU/USD
After staying within the trendlines of the falling wedge, we are reaching Important support areas. 1900 and 1885 are 2 areas of psychological support and historical pivot points, 1985 being the lowest point since June 29th.
Here we can either expect a clean reversal and push up off the 1900 support and back to retest areas of 1920-1930 or continue downwards to test the final 1982 support area. Watch these areas closely. Getting in the right time is vital to benefit the longer trend.
A falling wedge and support areas add pressure on the price action. The news these next few days should solidify a good area of momentum in either direction.
My bias is bearish; however, we shall watch closely.
It's now or never.
Here we can either expect a clean reversal and push up off the 1900 support and back to retest areas of 1920-1930 or continue downwards to test the final 1982 support area. Watch these areas closely. Getting in the right time is vital to benefit the longer trend.
A falling wedge and support areas add pressure on the price action. The news these next few days should solidify a good area of momentum in either direction.
My bias is bearish; however, we shall watch closely.
It's now or never.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.