XAUUSD Bearish Structure
As you see in the 4H chart, there was a bullish rally towards the red resistance zone and an upside breakout on it which was failed and price could not get fixed above it, so it came all the way down again.
Currently, we can see a bearish structure with a lower low which indicates price is willing to drop and reach lower levels.
Since price has broken the last minor low, I expect it may see 1830 and in the case of a downside breakout and bearish candle closure below 1830, the next target would be around 1811 which is the next support level.
What is your outlook on XAUUSD? Feel free to share your ideas in the comments.
Currently, we can see a bearish structure with a lower low which indicates price is willing to drop and reach lower levels.
Since price has broken the last minor low, I expect it may see 1830 and in the case of a downside breakout and bearish candle closure below 1830, the next target would be around 1811 which is the next support level.
What is your outlook on XAUUSD? Feel free to share your ideas in the comments.
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