As we can see in the H4 chart, XAUUSD is forming another correctional wave to the downside after a divergence on MACD. Possibly, after completing a short-term growth, the pair may form another descending impulse. At the moment, the asset is re-testing 23.6% fibo and trying to break it. The next downside targets will be 38.2%, 50.0%, and 61.8% fibo at 1825.38, 1797.23, and 1769.12 respectively. At the same time, a breakout of the resistance at 1916.52 may lead to a further rising movement towards the mid-term target, which is 61.8% fibo at 1922.50. The H1 chart shows a steady descending impulse that is testing 23.6% ... (full story)