XAUUSD bearish breakdown
This chart displays the 1-hour timeframe for Gold Spot against the U.S. Dollar (XAU/USD). The price action shows a potential breakdown of a key ascending trendline, indicating a bearish bias. Key features include:
1. **Key Resistance Zone:** Around $2,665–$2,675, which rejected the recent bullish attempt.
2. **Trendline Breakdown:** The price appears to have broken below the trendline, signaling a potential downward move.
3. **Bearish Target Zones:** Highlighted below $2,640, with a projection for further declines towards the $2,620–$2,600 range.
4. **Bearish Continuation Pattern:** The dashed path suggests a retest of the breakdown area before continuing lower.
The chart suggests traders should watch for confirmations of bearish momentum or potential rejection near resistance levels before further declines.
1. **Key Resistance Zone:** Around $2,665–$2,675, which rejected the recent bullish attempt.
2. **Trendline Breakdown:** The price appears to have broken below the trendline, signaling a potential downward move.
3. **Bearish Target Zones:** Highlighted below $2,640, with a projection for further declines towards the $2,620–$2,600 range.
4. **Bearish Continuation Pattern:** The dashed path suggests a retest of the breakdown area before continuing lower.
The chart suggests traders should watch for confirmations of bearish momentum or potential rejection near resistance levels before further declines.
Feragatname
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