XAUUSD - Finally Break LB Month, welcoming August Anomaly Down.

After struggling to reach R1 (Resistant) Month at 1833.05 for the third time, finally XAU decided to search for ground support.
The August NFP somehow boost XAU move down aggresively and break the LB Month in one powerful and striking H4 candle.

Next week (Aug 9 - 13) XAUUSD trade plans :

• 1. XAU will continue searching ground support at S2 Month (1730.78), before bouncing upward.
  
  2. XAU will even make a bolder move down and test the LB Quarter at 1705.67, before deciding any further move.
  
  3. XAU will rest at this level and making sideways move before completing it's Double Bottom (W pattern) cycle and continue testing the R1 Month.
  

Comment:

After struggling to reach R1 (Resistant) Month at 1833.05 for the third time, finally XAU decided to search for ground support.
The August NFP somehow boost XAU move down aggresively and break the LB Month in one powerful and striking H4 candle.

Next week (Aug 9 - 13) SAXO:XAUUSD trade plans :

1. XAU will continue searching ground support at S2 Month (1730.78), before bouncing upward.

2. XAU will even make a bolder move down and test the LB Quarter at 1705.67, before deciding any further move.

3. This is unlikely, but XAU might rest at this level and making sideways move before completing it's Double Bottom (W pattern) cycle and continue testing the R1 Month.