This 15-minute chart of XAUUSD shows that the bullish momentum is diminishing as the price approaches a resistance zone marked in red.
The recent upward trajectory has lost strength near this key resistance level, indicating potential exhaustion among buyers.
Consequently, there is a notable possibility that Gold could retreat, retracing its steps back to the previous low. This anticipated downward movement could result in a decline of approximately 100 pips, aligning with the earlier support levels observed on the chart.
The recent upward trajectory has lost strength near this key resistance level, indicating potential exhaustion among buyers.
Consequently, there is a notable possibility that Gold could retreat, retracing its steps back to the previous low. This anticipated downward movement could result in a decline of approximately 100 pips, aligning with the earlier support levels observed on the chart.
Join our Telegram channel via this link for analysis and trading signals.
t.me/+LT1LpjRoXPg4NGU8
t.me/+LT1LpjRoXPg4NGU8