XAUUSD failed to move beyond multi-month resistance at looks like its not retracing / moving to the downside.
Yorum
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XAUUSD is moving in conjunction with EURUSD. Lets see if we close the today UNDER the trendline and look for a nice entry.
Yorum
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Analysis is still proven to be wrong. Look at how price "handrails" the trendline. Just sucking in more bullish losers before move down. When XAUUSD wil close below trendline and below 20SMA this looks like a good entry.
Else if trendline will hold, nice reaction to the upside is possible. Stay flexible and look at what the market does!