XAUUSD Update - Head and Shoulders Formations, Drop Soon?

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Hi,

If you read on my analysis on Gold before, the weekly chart showed that the price is on the downtrend line. The price of gold has been slowing down for a few days and failed to break the 1,800. There is a formation of Head and Shoulders on the 4H Chart, shall the break confirm a further downfall for the Gold ? Possibly so. I am going short if there is.

As the consumer confidence was higher than consensus, this might be the case. However, beware on the upcoming FOMC statement.

Happy Trading!

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