XAUUSD| Bears Target 2320 Area, Daily Trend Strength Expected
Hello there,
XAUUSD is looking bearish on the H1 chart as it approaches the trendline towards the 2320 area. Stay on top of it as the general trend is still bullish.
The current candle opened under the 36-moving average, aligning with the momentum on the H4 and daily charts. To confirm a bearish signal, we'll need a second bear candle. It may retrace to the 0.618 level or bounce off the 0.382 fib level, with expectations of strong daily momentum. Keep an eye out for these patterns.
Happy Trading,
K.
XAUUSD is looking bearish on the H1 chart as it approaches the trendline towards the 2320 area. Stay on top of it as the general trend is still bullish.
The current candle opened under the 36-moving average, aligning with the momentum on the H4 and daily charts. To confirm a bearish signal, we'll need a second bear candle. It may retrace to the 0.618 level or bounce off the 0.382 fib level, with expectations of strong daily momentum. Keep an eye out for these patterns.
Happy Trading,
K.
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