In the daily time frame gold was in sell off trend and in friday break its support of 1660 level and now respect its support trend line in 1h smallar time frame and we expect on monday open that price retrace to its previous support now test as a resistance and than after closing bearish on 1h we have a good short sell trade in gold xauusd for the target of next support level coming according to price action which is 1623 and the low of sep 1615 strong level of support according to daily time frame and expected that price bounce to upside from this 1615 level. if on monday price break coming market structure resistance than wait for the range of 1660 level and after sell closing on 1h good setup to short on gold for the target of 1645 1640 and this week target is 1623-1615 level.
The technically gold is in down trend and bearish market also fundamentally dxy dollar index is strong due to strong cpi numbers and hike in interest rate desicioun from the federal reserve fed/.
The technically gold is in down trend and bearish market also fundamentally dxy dollar index is strong due to strong cpi numbers and hike in interest rate desicioun from the federal reserve fed/.