XAUUSD Potential for Bearish Continuation| 31st August 2022

2022年8月31日

On the H4, with prices below ichimoku cloud and moving within the descending channel, we have a bearish bias that the price may drop to the sell entry at 1720.067, where the overlap support is. If the price can break this sell entry, we can expect the take profit at 1703.556, where the swing low and 100% fibonacci projection are. Alternatively, the price may rise to the stop loss at 1740.662, where the swing highs and 23.65% fibonacci retracement are.

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