THE RECENT DOLLAR WEAKNESS HAS SEEN TRADERS GET INTO SAFE-HAVEN ASSETS AND BECAUSE OF THIS WE HAVE SEEN GOLD GAINING. TECHNICALLY GOLD IS ABOUT TO REACH KEY LEVELS AROUND 1300.0 WHERE BEARS MIGHT LOOK FOR OPPORTUNITIES TO SHORT THIS PAIR. IF WE GET SOME DOLLAR STRENGTH THAN THIS WOULD BE A GOOD SHORT TRADE.

XAUUSD DAILY

MARKET IS SIDEWAYS. PRICE IS BULLISH AND IS TESTING MR1 RESISTANCE. FURTHER RESISTANCE IDENTIFIED AT MM4 AND MR2. SUPPORT IDENTIFIED BY THE GREEN BARS. STOCHASTICS IS OVERBOUGHT. MY THINKING HERE IS BULLS PUSH PRICE TO THE ROLE REVERSAL RESISTANCE WHICH IS ALSO IN LINE WITH MR2 PIVOT( A PROFIT TAKING ZONE).

XAUUSD H4

MARKET IS BULLISH, 21 ABOVE THE 55. PRICE IS BULLISH. RESISTANCE IDENTIFIED AT WM4/WR2 WHICH COINCIDES WITH MR1. SUPPORT IDENTIFIED BY THE GREEN BARS.STOCHASTICS IS OVERBOUGHT. I WILL LOOK FOR REVERSAL PATTERNS ON LOWER TIME FRAMES TO SHORT THIS PAIR AT RESISTANCE.

XAUUSD H1

MARKET IS BULLISH, 21 ABOVE THE 55. PRICE IS BULLISH. PRICE HAS BLOWN THROUGH THE PIVOTS ON THIS CHART. RESISTANCE IDENTIFIED BY THE ORANGE BAR WHICH ALSO COINCIDES WITH MR1. STOCHASTICS IS OVERBOUGHT. I WILL LOOK FOR A REVERSAL PATTERN ON LOWER TIME FRAMES TO SHORT THIS PAIR.

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