XAUUSD is following a clear script. I recommend studying the latest ideas on XAU to understand the reasons for further decline. At the moment this stage could go to 1885 before a further bounce.
At this point I am only expecting a fall to 1885. This area is clearly of interest to MM and the market, on the background of a strengthening dollar, the price reaching this area will be quite fast. But, further from the mentioned support, with a high probability, a pullback may follow. If the false breakdown will be small, the upward impulse can be formed quite strong. On the background of downtrend and negative fundamental data for XAU, counter-trend correction and momentum may reach 1895 or 1901, but the decline may continue.
Support levels: 1885 Resistance levels: 1895, 1901 I expect the fall to continue to the above level. If the support is retested, a rebound may follow before a further fall.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.