Im Bearish on this pair as I am a Dollar bull My technical analysis is based on my DXY analysis which is what Iv been using lately to scalp the Gold which has been guiding my AUD/USD scalps aswell.
Take a look at my upload on the DXY analysis as well to get a clearer picture on my movement which is how I substantiate all my analysis on the USD pairs I’m focusing on.

XAUUSD Daily

(1) Support and resistance (1.1) Price action resistance @ MR2 and support is previous resistance above MM3. (2) Markets Markets are currently moving up 21/55 up. View DXY daily which currently is at over sold (3) Price (3.1) Price is showing an anticipated turn 5/8 Looking for reversal patterns on lower time frames. (3.2) Stochastic are currently at the overbought area

XAUUSD H4

(1) Support and resistance (1.1) Price action resistance @ Previous roll reversal resistance and support is at WPP. Im looking to enter at FIB 61.8 which would be a perfect entry technically to support a strong reversal pattern of a 123. Im hoping the DXY H4 falls bringing the stoch to oversold technically giving me a setup for a long on my XAU entering ideally at 61.8, also paying close attention on fundamentals that could affect my positions (2) Markets Markets are currently sideways at most 21/55 with a falling 21. (3) Price (3.1) Price is currently bearish 5/8 Looking at clearer reversal patterns on lower time frames. Also keeping an eye on the 55 EMA if price comes off it leads to a potential triple top. (3.2) Stochastic are currently at the overbought area

XAUUSD H1

(1) Support and resistance (1.1) Price action resistance @ Previous roll reversal resistance above DPP and support is above DM2, Im looking to enter at Resistance if price breaks resistance during or at the end of NY Im anticipating a better entry @ FIB 61.8 which would be a perfect entry technically if today leads to better stoch alignments. If price closes below DR1 friday its basically a perfect swing trade setup for next week but today Ill be keeping an close eye on all these possibilities. (2) Markets Markets are currently holding a bearish sideways momentum at most 55/21 with a 21 dynamic resistance. (3) Price (3.1) Price is currently bearish 8/5 (3.2) Stochastic are currently at 50 headed for overbought.

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