XAUUSD (GOLD) Daily TF (Important)

As mentioned in the previous analysis, the price of gold has broken its dynamic support by falling more than 250 pips. Today is a crucial day for the gold trend, and if the static support of the $ 1760 range is lost, we can expect it to fall to lower levels such as : $ 1755, $ 1726 and $ 1707.
The previous analysis is still valid.


Caption :

🔴 Bearish Scenario :

We see that the price is in a trading range after the break of the uptrend and is fluctuating in the same range.
We see that the price has rebounded (pullback) to the broken level. We have to see if the price will succeed in breaking its next dynamic support with the start of the new trading week or not .
Exiting the price below or above this range could determine the possible future trend of the Gold ( XAUUSD ) .
The bearish targets will be $1760 , 1755$ , 1745$ , $1726 and $ 1707 respectively .

🟢 Bullish scenario :

If the price can break both its static and dynamic resistance (X-Point) and close above $ 1800, we can expect growth to the following targets, respectively:

Target 1 : 1808$
Target 2 : 1815$
Target 3 : 1831$
Target 4 : 1845$

Follow our other analysis & Feel free to ask any questions you have, we are here to help.

⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 15.DEC.2021
⚠️(DYOR)

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