Gold has been in moving in a downward channel in the higher time frame and there is a potential sell set up lining up for the coming week or two.
Our reasons for potential further downside move for XAU/USD are as follows:-
- Key monthly resistance level
- Pinbar on the 8H and 1D time frames
- Visible down trend
- Rejection from 50% Fib Retracement
Our reasons for potential further downside move for XAU/USD are as follows:-
- Key monthly resistance level
- Pinbar on the 8H and 1D time frames
- Visible down trend
- Rejection from 50% Fib Retracement