XAUUSD Forecast 8/16/22

There are a few indication in the price action sentiment that gold could possible turnover. You do want to make the mistake and have the wrong bias about a trend change to early ! Therefore, It is important to pay attention to the market structure when price may not be so clear on trend changes.. Currently gold has been consolidated and structure indicates it can go into a down trend, but the bullish trend has not been broken yet. I would monitor first before entering since do have some fundamental event for the week ( Don't for get to check this). Side Bar: Please note the higher timeframe retest of the fib level indicated on the chart.

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