We have seen a big drop on XAUUSD in the last month. Currently, price is in a bullish correction phase and is retracing the previous downside move.
In the 4H time frame, price is approaching to the resistance level around 1768 and we should wait to see if it breaks the resistance or not.
Since price has started a strong bullish move, if it breaks the resistance level around 1768 and closes a bullish 4H candle above this level, we can expect a rise towards the next resistance level around 1785.
In the 4H time frame, price is approaching to the resistance level around 1768 and we should wait to see if it breaks the resistance or not.
Since price has started a strong bullish move, if it breaks the resistance level around 1768 and closes a bullish 4H candle above this level, we can expect a rise towards the next resistance level around 1785.
Trade closed: target reached
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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.