XAU/USD are in consolidation moving horizontally between 1960 and 1920 prices respectively.
As we may see its getting trapped inside a TRIANGLE and we may wait for a clear breakout to offer us guidance and entry points.
Moving along the 50EMA and 21 EMA and we have below the 100SMA which is acting as one of our support and if the price may get below our
100SMA we may see a downside movement to 1861 and on breakout of this price level we may see 1792.
Otherwise rejection at price level 1920 and 1915 may potentially take gold prices to the upside.
Support Levels: 1920, 1915, 1861, 1792
Resistance Levels: 1960, 1980, 2015. 2075
Just TradeFx
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As we may see its getting trapped inside a TRIANGLE and we may wait for a clear breakout to offer us guidance and entry points.
Moving along the 50EMA and 21 EMA and we have below the 100SMA which is acting as one of our support and if the price may get below our
100SMA we may see a downside movement to 1861 and on breakout of this price level we may see 1792.
Otherwise rejection at price level 1920 and 1915 may potentially take gold prices to the upside.
Support Levels: 1920, 1915, 1861, 1792
Resistance Levels: 1960, 1980, 2015. 2075
Just TradeFx
Thanks for your love and support.
Dont forget to like and follow.
Reached first short target..