What an epic week was the last week! Due to important economic news like CPI release, we have seen big significant moves in the financial markets.
XAUUSD had a sharp and strong drop in the past few weeks and as it is clear, price has a downtrend formation.
In the lower time frame like 4H, price had a pull back towards the yellow resistance area to 1680 and then started to drop again.
Currently, there is no strong support level ahead and we expect a continuation on downside move towards the green level at 1575 which is a demand area in the Monthly time frame.
XAUUSD had a sharp and strong drop in the past few weeks and as it is clear, price has a downtrend formation.
In the lower time frame like 4H, price had a pull back towards the yellow resistance area to 1680 and then started to drop again.
Currently, there is no strong support level ahead and we expect a continuation on downside move towards the green level at 1575 which is a demand area in the Monthly time frame.