XAUUSD Potential for Bearish Momentum
On the H4, with prices breaking the ascending trendline and MACD histograms are expanding below zero axis, we have a bearish bias that the price may drop from the buy entry at 1784.006, which is in line with the overlap support and 23.6% fibonacci retracement to the take profit at 1760.250, which is in line with the overlap support and 38.2% fibonacci retracement. Alternatively, the price may rise back to the ascending channel and rise to the 1st resistance at 1808.877, which is in line with the swing high.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
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