XAUUSD ANALYSIS EP5

This could be a short, bearish trend that might extend to 2531.00. Short the market at 2624.50, take profit at 2595.50 or even as early as 2600.00. If the market breaks below 2590.00, we will sell as far as 2531.00.

Market bias is bearish at the break below previous support. Further confirmation is that the price is below both weekly and daily CPR. Therefore am disregarding the bullish order block break on H1.

If the price breaks above 2629.00, we shall consider buying. Else the bearish trend remains unchallenged by buyers.