Whilst remaining in a bullish pattern XAUUSD
seems to not be able to break the previous highs. A small trend reversal seems imminent to 1278 at which it will meet slight resistance. Keep in mind that XAUUSD
is able to fall to 1260 to remain in an overall bullish trend
on monthly view. However, for now a re-trace seems inevitable.
'Bear' in mind this is a simple analysis from your local Salmon
. Do not take my words as sacred truths, if you don't catch this one, there's plenty more fish in the sea.
Happy trading, I would be glad to get feedback and other ideas.