GOLD (XAUUSD) Indecision & Intraday Outlook

hey traders,

Gold is currently stuck within a contracting trading range.
The price sets lower highs and higher lows forming a classic symmetrical triangle.

For intraday trading, I would consider breakouts.

In case of a bullish violation of a falling trend line,
I will expect a continuation to 1750 resistance.

In case of a bearish violation of a rising trend line,
I will expect a drop to 1720 support.

I remain bearish biased but let's wait for the big players' decision.

Yorum:

Check my new analysis on USDCAD: