XAUUSD
has bounced (+4.5%) from a strong support zone of 1676-1683 on 8th March, and currently
XAUUSD
is consolidating around the control price of 2053-1514 channel (Dotted lines) There can be only two possibilities, the price might go UP or DOWN.
If the price breaks and retest the 1719-1724 area I’ll be looking for a short opportunity, targeted TP will be somewhere around 1700-1680. if the price breaks down and retests the support zone of the 1676-1683 area, I’m expecting a further drop of
XAUUSD
up to 1640. If you study my chart you can identify many more possibilities, nothing is 100% accurate.
Don’t forget that
DXY
is on an Uptrend since 5th Jan 2021. Please criticize and support my analysis with like and comment!!!!!!!
