XAUUSD along with the rest of the market has been rallying to the upside as market participants are expecting a Pivot from the FED, however the HTF bearish structure is still valid - gold has been trading in a descending channel since April and is now testing the top resistance in confluence with the 0.618 fib. 1730 is a nice psychological area for this commodity, we are monitoring the LTF for potential short entries.
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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.