XAUUSD: waiting for correction
Hello dear friends!
In general, last week gold experienced quite strong fluctuations affecting gold and currency pairs. Let's discuss and strategize for the new day with me.
From now until the end of the week, there will basically not be as much important information as last week.
From the 1-day chart, it can be seen that at the close of the candle last Friday evening, a kangaroo candle formed (representing a strong bearish correction of the market) around the 2432-2435 area. There is a possibility of a market correction, as this candlestick shows a slowdown in the market.
I recommend waiting for a break around 2320 USD and retesting the EMA 34.89 around 2285 USD, before expecting it to rise again. And you, do you agree with me?
In general, last week gold experienced quite strong fluctuations affecting gold and currency pairs. Let's discuss and strategize for the new day with me.
From now until the end of the week, there will basically not be as much important information as last week.
From the 1-day chart, it can be seen that at the close of the candle last Friday evening, a kangaroo candle formed (representing a strong bearish correction of the market) around the 2432-2435 area. There is a possibility of a market correction, as this candlestick shows a slowdown in the market.
I recommend waiting for a break around 2320 USD and retesting the EMA 34.89 around 2285 USD, before expecting it to rise again. And you, do you agree with me?
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