XAUUSD Weekly Technical Outlook
XAUUSD market operation on the weekly time frame made a bullish retest of the upper boundary of the 1927.900/1962.150 channel (green) last week. The area saw a bearish drive to the lower boundary four weeks ago. Technically, bears are still favoured more than bulls.
XAUSD price action turned sideways in the latter of last week after a bullish retest of the upper boundary of the 1927.900/1962.150 channel (green). Although we may still see northward market engineering to an area of value, the market imbalance below the 1895.000 area may incentivize a bearish rotation after a northward liquidity sweep.
XAUUSD price action on the H4 time frame is ranging at the upper boundary of the 1927.900/1962.150 channel (green). Any further northward would be temporary as the technical structure favours bears.
I may be wrong. Trade safe and prosper.
KP
XAUUSD market operation on the weekly time frame made a bullish retest of the upper boundary of the 1927.900/1962.150 channel (green) last week. The area saw a bearish drive to the lower boundary four weeks ago. Technically, bears are still favoured more than bulls.
XAUSD price action turned sideways in the latter of last week after a bullish retest of the upper boundary of the 1927.900/1962.150 channel (green). Although we may still see northward market engineering to an area of value, the market imbalance below the 1895.000 area may incentivize a bearish rotation after a northward liquidity sweep.
XAUUSD price action on the H4 time frame is ranging at the upper boundary of the 1927.900/1962.150 channel (green). Any further northward would be temporary as the technical structure favours bears.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
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