XAUUSD CFD Weekly - 10 - 14 Aug 2020
Last Friday Gold dropped nearly about %1.50 action came in line with the rebound in the greenback leaving the scenario of a deeper correction unfavoured for the time being.
From our technical andrew's pitchfork, price might move further lower towards inside uptrend pitchfork as we see the key level support at $2,000 lower line support after price made reversal on 3.82 fibo resistance key level and targeting price is heading to retest on support level.
However trend clearly on strong bullish and last week drop might be a price correction thus downside are limited and price might heading further with the current global economics situation.
From our technical andrew's pitchfork, price might move further lower towards inside uptrend pitchfork as we see the key level support at $2,000 lower line support after price made reversal on 3.82 fibo resistance key level and targeting price is heading to retest on support level.
However trend clearly on strong bullish and last week drop might be a price correction thus downside are limited and price might heading further with the current global economics situation.
