Here's my technical outlook on XAUUSD. Although the XAUUSD market is still disposed positively, bears are becoming increasingly influential. On the weekly time frame, four weeks ago, bears rejected the 1558 multi-year resistance zone. There was a bearish follow-up in the subsequent two weeks. But last week, bulls pushed price action northwards leading to the printing of a bullish pinbar. Technically, we should expect a bullish follow-through in the early part of this week but there are some barriers to a bullish momentum.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money