XAUUSD 4hour Analysis October 16th, 2022
Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are back to bearish on GOLD and it looks like it will continue with this trend into the week ahead.
Ideally, price action forms a lower high near 1660.00 followed by strong bearish variations. If this happens look to target lower toward 1630.00.
Trade scenario 2: For us to see GOLD as more bullish we would need to see a break above key resistance around 1675.00 with a higher low above.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are back to bearish on GOLD and it looks like it will continue with this trend into the week ahead.
Ideally, price action forms a lower high near 1660.00 followed by strong bearish variations. If this happens look to target lower toward 1630.00.
Trade scenario 2: For us to see GOLD as more bullish we would need to see a break above key resistance around 1675.00 with a higher low above.