Xauusd-trend
GOLD- A weak bear is still a bearHello everyone
The last weekly bar closed with a long shadow at the bottom.This shows less selling pressure and maybe a reversal may occur on XAUUSD ,which will give us two possible outcome;
1 - A bounce from our support level of 1850$ which may turn into a possible bull trend and that may happen in 2-3 days (a simple down trend on lower time frames).
2 - the bear trend continues, maybe due to a bad news , a breakout of our current channel and touching the next support which is 1825$.
For now, I would take sell signals only because of the trend and the 2 last bars on daily.
Gold trend line 1830 to 1920 than 2000 than 🌙gold price made tipple bottom near 1680 since price is making higher high and higher low along a yellow ascending trend line zone near 1835 1825 support zone
price has already made 50% retracement next target will be 1827 (0.618 retracement) near strong support 1835 and yellow trend line
if price makes bottom near 1827 retracement and yellow trend line than buyers target will be $2000 with first confirmation for bullish trend at 1920
XAUUSD 1D (Upward) till Federal XAUUSD, Now will try to get upward after can stable above the support weekly zone.
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It rises even with the negative federal responses to gold,
due to the turbulent political conditions between great countries.
Unemployment and wages report.
.......
Upward
Above 1800
Target 1813 & 1828 &1848
Sl: 1780