Following last week's relatively accurate forecast (link below), here's the updated outlook for this week.
IMO a bearish trend is still in place after seeing a false breakout above trendline last week.
For this week, we may finally see a breakout from the 1830s and 1870s levels as the market has been ranging in this zone for quite some time. A bullish breakout...
Price reached buy zone and bounced nicely. The link of previously published idea on 25/1/21 is attached below. (can't post link here as I'm not a pro member. Still working on earning reputation points)
IMO market is still bearish and would look for short opportunities. Will continue to observe price actions before making any entries here.
Possibility is slim but...
XAUUSD is expected to range within 1860s and 1830s level within the next few days which provides nice scalping opportunities.
If bearish breakout occurs below the channel we might see price reaching 1760s level.
If bullish breakout occurs above the channel and we will have a potential tp at 1900s level.
Personally, I'm bearish and am holding short positions at...
