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XAUUSD DOWNSIDE TOWRADS $1800 - $1790Gold is bearish intraday below $1820. The price may drop to support at $1800 and could continue to fall towards $1790 support. The sellers would need to clear support levels around $1793, where the SMA100 one-day and the previous week’s low meet. A recovery towards resistance at $1814, where (200 SMA) four-hour and Fibonacci 38.2% one-month coincide would allow to test $1819 supply area. Daily and 4H charts show bearish momentum. For now, XAUUSD appears to be forming a consolidation pattern between $1830 and $1800, a break may cause more more volatility in Gold.
SAXO:XAUUSDShort
by GOLDPIPSMAKER
XAUUSD, 4hr tf, bearish scenario Possible scenario for XAUUSD. Price going up inside this channel and the recent drops on Friday confirm a break below the support. It looks like XAUUSD making a bearish flag or possible rising wedge. If it plays out as bearish flag, the drop on XAUUSD gonna be massive. This upwards movement is a retest of broken trendline. We could see XAUUSD continue decline further. Sell XAUUSD 1815 Stop loss 1825 Take profit 1750 (6.5R) Use only 1-2% risk Good luck
FX:XAUUSDShort
by HayatoDragonFX
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