GOLD (XAU/USD) – Week 21 – Correction expected soon.
Updated
In our previous outlook, Gold continued to increase, despite our bearish forecast.
For this week, our bias remains unchanged, as we are expecting Gold to start a bearish pullback towards the support area. Our confirmation for this move will be a breakout of the blue trendline, followed by a small correction underneath. If not, the price may continue to increase.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week, our bias remains unchanged, as we are expecting Gold to start a bearish pullback towards the support area. Our confirmation for this move will be a breakout of the blue trendline, followed by a small correction underneath. If not, the price may continue to increase.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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