XAUUSD IS DOING STEP BY STEP BEFORE THE SHORT
XAUUSD is showing a bearish trendline that has pushed the price down to the 1925 area. The market has left a significant amount of liquidity/inefficiency between 1930 and 1960, which the price is likely to revisit in the coming days before bouncing back towards the 1960 zone. In that area, we have a supply zone, but there may be a false breakout of the trendline before the price descends to the 1930 zone. This area represents a demand zone and will be our last consolidation zone before initiating a short position with a target of 1880. We would appreciate it if you could share your analysis. Regards, Nicola, CEO of Forex48 Trading Academy.
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