XAU/USD Technical Analysis

Gold has broken the critic 1830 area and made a rally to 1875 area before coming back to 1775 area again. The brake of this 1830 has been very important considering the high resistance of this area and head and shoulder formation. Looking at the fib retracement level 1780, the 0.618 level, is a good place to look to go long. I believe that this trade will last for some time so consider your tp in different areas with different setups but in the long run, I believe gold will be in a bullish trend until minimum 1975 area which is the -0.618 fib extension area.