UPDATE: XAUUSD BUY OR SELL?
What to expect:
Based on our analysis, gold has respected our positions and reached the level of 1963. We anticipate that gold will continue its downtrend. According to the shared screenshot, we expect gold to consolidate around the range of 1963-1966 before the New York session. This consolidation may trigger stop losses and lead to a continuation of the downtrend. However, we need to wait for the New York session for further confirmation.
It's important to note that there's a Key Level at 1968, and if gold reaches that level, there is a possibility of it continuing its upward trend. In that case, it may rise all the way to 1978 before the sell-off begins. For now, we will wait and closely monitor the market for any potential trading opportunities.
Remember to exercise caution and wait for confirmation before making any trading decisions. The market can be unpredictable, so it's important to stay patient and follow your trading strategy.
Based on our analysis, gold has respected our positions and reached the level of 1963. We anticipate that gold will continue its downtrend. According to the shared screenshot, we expect gold to consolidate around the range of 1963-1966 before the New York session. This consolidation may trigger stop losses and lead to a continuation of the downtrend. However, we need to wait for the New York session for further confirmation.
It's important to note that there's a Key Level at 1968, and if gold reaches that level, there is a possibility of it continuing its upward trend. In that case, it may rise all the way to 1978 before the sell-off begins. For now, we will wait and closely monitor the market for any potential trading opportunities.
Remember to exercise caution and wait for confirmation before making any trading decisions. The market can be unpredictable, so it's important to stay patient and follow your trading strategy.
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