XAUUSD Gold Forecast and Trade setup

XAUUSD Gold Forecast and Trade setup 

Weekly Chart

• RSI is showing weakness

Daily Chart

• Bullish Cypher is possible Note this pattern is not the same as the one on the 4hr chart

Hourly Chart

• 4hr Bullish cypher is possible at the next support zone
• Near term price action is in a bearish momentum, however price is trying to go back above support where it could be a false break ,
• on the other hand, price could drop to the next support if US Data is hawkish tonight

Outlook Trade opportunity

Bit of an unknown for short term trade, however, personally i have taken a short position targeting 1260-65's

Risk Level High

Tips -

Always take note of any economical news event on our provided calender below