XAUUSD Potential for Bullish Rise | 9th September 2022

9 Eyl 2022

On H4, with the price breaking the descending trendline, we have a short term bullish bias that the price may rise from the buy entry at 1719.899, where the current price around to the take profit at 1730.482 area, which is in line with the overlap resistance, 50 % and 38% fibonacci retracement, as well as 100% fibonacci projection. Alternatively, as the price is still under ichimoku cloud, the price may drop to the stop loss at 1705.002, where the current swing low is.

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