The XAUUSD weekly chart shows the following signs:
Last week the pair retreat below the Kijun Sen and under the KUMO cloud. This is a very bearish sign and a sell signal without doubts. Technically RSI and MACD both say "sell". As you can see in the diagram EMA 200 is a strong resistance line (twice) and the KUMO make a twist with SPAN B cross down the SPAN A.
I expect the pair to reach soon at it's first target at 1221 as I had mensioned in last daily analysis (see linked related ideas below).
Last week the pair retreat below the Kijun Sen and under the KUMO cloud. This is a very bearish sign and a sell signal without doubts. Technically RSI and MACD both say "sell". As you can see in the diagram EMA 200 is a strong resistance line (twice) and the KUMO make a twist with SPAN B cross down the SPAN A.
I expect the pair to reach soon at it's first target at 1221 as I had mensioned in last daily analysis (see linked related ideas below).
