XAUUSD
Hey traders,
I'm currently seeking a short position in gold for tomorrow's trading. My analysis suggests that during the Asian session overnight, we could potentially see a rise up to around 1928. This presents a perfect entry opportunity as we would have a retest on a significant resistance level. Adding to the confluence, the Fibonacci retracement at 68% aligns with the bearish sentiment across multiple timeframes for gold.
For my take profit (TP), I would set it at 1920.50. However, if there is negative news regarding the dollar, I might even consider aiming for a further downward move to 1913.
Please note that this is my personal analysis, and as always, it's important to conduct your own research and risk management before making any trading decisions. Good luck with your trades!