XAU/USD-Daily analysis
Hello everybody!
-On XAUUSD we can see that price was moving in bullish direction until 31 JAN 20,and then price got rejected on strong resistance(blue line) and price bounce off in bearish direction,now we can see that price break trough(yellow circle) trend line(purple line) and price is now rejected at temporary support line(yellow line)
-It seems that bears gained some selling momentum but how much will that last?
-Will the price break trough temporary support or will it bounce back in bullish direction?
WHAT DO YOU THINK?
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
-On XAUUSD we can see that price was moving in bullish direction until 31 JAN 20,and then price got rejected on strong resistance(blue line) and price bounce off in bearish direction,now we can see that price break trough(yellow circle) trend line(purple line) and price is now rejected at temporary support line(yellow line)
-It seems that bears gained some selling momentum but how much will that last?
-Will the price break trough temporary support or will it bounce back in bullish direction?
WHAT DO YOU THINK?
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
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