XAUUSD: Resistance Barrier
XAUUSD had a significant growth in the past few weeks and is moving in an uptrend.
As you see in the 4H time frame, price has broken the yellow resistance zone between 1945-1949 and closed bullish candles above this area.
There is another resistance barrier around 1958 and price is struggling to break it. We might see a throwback to the broken yellow zone and then a push to the upside to break 1958.
If price breaks the red resistance level at 1958 and closes a bullish candle above this level, we can expect more rise on XAUUSD to 1978 which is a daily resistance level.
Otherwise, if price comes down below 1945, there is a probability of more drop towards the ascending trend line around 1935.
As you see in the 4H time frame, price has broken the yellow resistance zone between 1945-1949 and closed bullish candles above this area.
There is another resistance barrier around 1958 and price is struggling to break it. We might see a throwback to the broken yellow zone and then a push to the upside to break 1958.
If price breaks the red resistance level at 1958 and closes a bullish candle above this level, we can expect more rise on XAUUSD to 1978 which is a daily resistance level.
Otherwise, if price comes down below 1945, there is a probability of more drop towards the ascending trend line around 1935.
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