OANDA:XAUUSD Gold prices remain below the $1,950 and $1970 trading ranges that previously limited the XAU/USD moves as market participants brace for the expected release of US employment and activity data. Dad this week.
That said, the previous day's breakdown of the $1952 support confluence, resistance now serves as an immediate signal in favor of the Gold bears despite the metal's recent gains in the day. It should be noted that the one-week 23.6% Fibonacci level highlights the importance of the aforementioned technical level.
With this, Gold Price is likely to drop to the lower Bollinger band on hourly play of the one-week Pivot Point S1 and 200-HMA, around $1940.
Trade closed: target reached
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SELL XAUUSD 1954 => 1935. +190pip ❤️❤️🤑. LOVELY DAY
Comment
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Yesterday was a big day, congrats to everyone who followed my signal