Pullback from resistance and trendline.
This last bullish movement was quite unexpected. It is clear that the 1616/1620 price level is a strong supply area, and I feel like the USD will slowly lose its safe haven currency status. This will obviously push XAU to its real value in the future.
However, I feel like correction is needed before any continuation is achieved.
I expect a pullback from the resistance and trendline crossing area.
Adding a few indicators like RSI, Stochastics and MACD we can see there is divergences and overbought ratings.
My plan is to short until 1670/1660 and wait for price action to confirm uptrend or sideways consolidation.
However, I feel like correction is needed before any continuation is achieved.
I expect a pullback from the resistance and trendline crossing area.
Adding a few indicators like RSI, Stochastics and MACD we can see there is divergences and overbought ratings.
My plan is to short until 1670/1660 and wait for price action to confirm uptrend or sideways consolidation.
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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.