XAUUSD: Multiple indicators point to continued downtrend
Updated
Dear Traders,
Based on three distinct analyses, XAUUSD appears poised to continue its downtrend:
1- There's an increasing density of low frequencies between 1857 and 1852. Notably, the 1852 level seems to be acting as a significant barrier against further price advancement.
2- The channel, highlighted in blue, similarly indicates resistance in the 1855 to 1852 range.
3- The asset has just broken through the red trendline indicated on the chart, further suggesting potential downward momentum.
Based on three distinct analyses, XAUUSD appears poised to continue its downtrend:
1- There's an increasing density of low frequencies between 1857 and 1852. Notably, the 1852 level seems to be acting as a significant barrier against further price advancement.
2- The channel, highlighted in blue, similarly indicates resistance in the 1855 to 1852 range.
3- The asset has just broken through the red trendline indicated on the chart, further suggesting potential downward momentum.
Note
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