XAUUSD - Price Forecast
Hello everyone,
XAUUSD doesn't appear to be out of the woods just yet. The bearish outlook is taken from the daily price action since last week, with the impulsive moves down adding further weight to the bearish sentiment.
I don’t think the correction is over as the price action upwards is still playing out in a corrective nature. 1880 is the key price level for me and I am looking to see where the weekly closes are from this price level. Last week presented a gap on market opening and saw price rally from the 1898 up to challenge the swing high at 1965. The challenge failed and price fell back beyond that gap and more importantly below the 1880 level for a weekly close at 1849.
It’s possible that we’ll get a challenge towards the 1880 level this week but a further move down to test 1765 swing low and possibly lower looks a stronger possibility now than it did last week.
Simply staying aware of the possibilities. Let’s see how it plays out for the rest of the week.
Follow for further updates. Your 'likes' are much appreciated and your comments are most welcomed.
Thank you for taking the time. Trade safe!
Beyond Edge
Disclaimer
This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
You should do your own research and analysis before making any investment decisions. Do not trade or speculate based on the information provided in this idea.
Trust your own analysis.
Beyond Edge
XAUUSD doesn't appear to be out of the woods just yet. The bearish outlook is taken from the daily price action since last week, with the impulsive moves down adding further weight to the bearish sentiment.
I don’t think the correction is over as the price action upwards is still playing out in a corrective nature. 1880 is the key price level for me and I am looking to see where the weekly closes are from this price level. Last week presented a gap on market opening and saw price rally from the 1898 up to challenge the swing high at 1965. The challenge failed and price fell back beyond that gap and more importantly below the 1880 level for a weekly close at 1849.
It’s possible that we’ll get a challenge towards the 1880 level this week but a further move down to test 1765 swing low and possibly lower looks a stronger possibility now than it did last week.
Simply staying aware of the possibilities. Let’s see how it plays out for the rest of the week.
Follow for further updates. Your 'likes' are much appreciated and your comments are most welcomed.
Thank you for taking the time. Trade safe!
Beyond Edge
Disclaimer
This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
You should do your own research and analysis before making any investment decisions. Do not trade or speculate based on the information provided in this idea.
Trust your own analysis.
Beyond Edge
🔰 Not financial advice. For educational purposes only.
🔰 Join the free Telegram channel for more crypto - t.me/BeyondEdge
🔰Follow me on twitter twitter.com/beyondedge_
Your likes and follows are much appreciated.
BeyondEdge
🔰 Join the free Telegram channel for more crypto - t.me/BeyondEdge
🔰Follow me on twitter twitter.com/beyondedge_
Your likes and follows are much appreciated.
BeyondEdge
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.