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XAUUSD Daily Chart Analysis: Drop below 1600 is still possible

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Ouro/Dólar Americano (FX:XAUUSD)  
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FX:XAUUSD   Ouro/Dólar Americano
Trend Analysis Chart Patterns Beyond Technical Analysis XAUUSD xauusdshort xauusdupdates xauusdanalysis xauusdsell xauusd4h
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trendanalysis chartpattern beyondta xauusd xauusdshort xauusdupdates xauusdanalysis xauusdsell xauusd4h

XAUUSD is showing weakness in the daily chart. There is scope for a drop below 1560. Currently, the price is consolidating between 1688 and 1705. Once the consolidation is over, a drop is likely.

In the hourly chart two, Gold is trading below the important 100 hour EMA, which indicates short and medium-term weakness.

Sell Trades executed at the zone I have marked in my chart are still valid with SL placed above the previous high.


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Gold gets rejected near previous high, may pullback
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Gold may pull back temporarily
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