As you see in the chart, price has approached to 1850 - 1858 which is the resistance zone and is struggling to break it.
The main trend is still bearish, but on the other hand, we can see the bullish pressure in the market, and price has made a higher high and higher low.
If the red resistance zone broken to the upside and a bullish 4H candle closed above this level, we can expect a rise on XAUUSD towards the next high around 1888, otherwise, if price gets rejected from the resistance, it will drop.
Personally, I am on the bullish side for XAUUSD this week. What about you?
The main trend is still bearish, but on the other hand, we can see the bullish pressure in the market, and price has made a higher high and higher low.
If the red resistance zone broken to the upside and a bullish 4H candle closed above this level, we can expect a rise on XAUUSD towards the next high around 1888, otherwise, if price gets rejected from the resistance, it will drop.
Personally, I am on the bullish side for XAUUSD this week. What about you?
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