XauUsd- New day, new ATH?
Updated
So far, April has been the month for 
XAUUSD, with the yellow metal setting a new all-time high each day. (Even on April 4th, despite a red day candle, we observed an all-time high on an intraday basis.)
Even though the upward move appears overextended and a strong correction seems imminent, there are no indications suggesting we are on the brink of it at this point.
From a technical standpoint, the structure remains strongly bullish, and as long as the 2330-2335 zone remains intact, even short-term charts maintain a strong bullish sentiment.
In conclusion, I anticipate another all-time high, and only a drop below 2320 would hint at a potential top forming, at least for the time being.
However, bulls should exercise caution with stop losses, as a correction in XAUUSD could potentially be deep and aggressive.
XAUUSD, with the yellow metal setting a new all-time high each day. (Even on April 4th, despite a red day candle, we observed an all-time high on an intraday basis.) Even though the upward move appears overextended and a strong correction seems imminent, there are no indications suggesting we are on the brink of it at this point.
From a technical standpoint, the structure remains strongly bullish, and as long as the 2330-2335 zone remains intact, even short-term charts maintain a strong bullish sentiment.
In conclusion, I anticipate another all-time high, and only a drop below 2320 would hint at a potential top forming, at least for the time being.
However, bulls should exercise caution with stop losses, as a correction in XAUUSD could potentially be deep and aggressive.
Note
XauUsd cleared interim resistance and made a new ATH.Technicals suggests 2375-2380
Note
XauUsd has started to fail on tops.Correction is around the corner
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
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.