XAUUSD Trading Strategy for Next Week

6 May 2023

XAUUSD after reaching the peak, briefly manipulated over night it crashed to $1,9999, breaching the Mean Reversion Channel briefly. A breach of mean reversion channel is a confirmation of reversal sign. The price went under retracement back into the migration channel and found a resistance within the migration channel. I dont foresee XAUUSD going back into trend continuation channel upward as all the fundamentals and technicals are indicating that the price must go back to the mean reversion channel, and the price target is around 1,970