XAUUSD Bearish Pressure
Price is bouncing in the ascending parallel channel as a correction and retrace, and as you see in the 4H chart, it was rejected from the channel’s upper side.
Currently, we can see a strong bearish push on price. The main trend is bearish and price is in the correction phase.
There is a support level at 1940, and if price breaks this level, I expect a fall towards the channel’s lower band around 1925, and in the case of a downside breakout on the channel, the next target is around the next major low near 1900 and 1895
Currently, we can see a strong bearish push on price. The main trend is bearish and price is in the correction phase.
There is a support level at 1940, and if price breaks this level, I expect a fall towards the channel’s lower band around 1925, and in the case of a downside breakout on the channel, the next target is around the next major low near 1900 and 1895
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