Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1503.09). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 71.
Take Profits:
TP1= @ 1519.70
TP2= @ 1535.00
TP3= @ 1554.90
SL= Break below S2
. There is a possibility of temporary retracement to suggested support line (1503.09). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 71.
Take Profits:
TP1= @ 1519.70
TP2= @ 1535.00
TP3= @ 1554.90
SL= Break below S2