Technical Analysis By Real Forex MM

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XAUUSD(Gold)!! What is next?

XAUSUD(Gold) is currently trading at 1709.00 and we have found some interesting setup for GOLD at H4 timeframe. Today at UK session Gold was able to break 1700 level but sellers cant dominate. If we look at the H4 chart we can see gold is nicely trading within a descending channel tradeline.

If today gold able to close above 1711, we might see gold will challenge the recent high at 1738. On the other hand, any break below 1690 will trigger more selling pressure and we might see gold might fall to the 1660 level for the upcoming days. Right now Gold is trading with the descending channel tradeline.

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This trading analysis is only for getting an idea about the current market situation. This is not a signal. These can be used for education purposes only.


    • admin April 29, 2020

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