XAUUSD Still Bearish
XAUUSD is facing a strong downside pressure these days and as you see in the daily time frame, price has made a lower high.
Currently, price is approaching to the yellow support zone around 1890-1888 which has pushed it to the upside in the past.
But, since we are facing a bearish pressure and we have a downside structure, there is a high probability of the downside breakout on the support zone snd in the case of a bearish candle closure in lower time frames like 4H or 1H, we can expect more drop on XAUUSD around 1850.
Currently, price is approaching to the yellow support zone around 1890-1888 which has pushed it to the upside in the past.
But, since we are facing a bearish pressure and we have a downside structure, there is a high probability of the downside breakout on the support zone snd in the case of a bearish candle closure in lower time frames like 4H or 1H, we can expect more drop on XAUUSD around 1850.
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