XAUUSD has seen a bearish first week to February. However the markets need to rebalance Potential 500 pip week to clear liquidity and fill orders at 1880. But first price has to test H4 50 moving average We are also at the bottom of the Bollinger bands near 1800
Price has been in a descending channel since 2017. We are now currently consolidating at a previous resistance level. I will be waiting for a break of this range to the downside followed by a retest of the zone in which I will look for entries. Target areas will be at previous monthly support levels (0.8400). This is a long term move