OANDA:XAUUSD   Gold Spot / U.S. Dollar
Looking at XAUUSD the first thing i'm going to say is im going for a bullish outcome for the upcoming week. Reasons being firstly, if we look at the monthly timeframe we can see that from July 16th to 2nd of April 2018 we had been respecting the resistance line very nicely. However coming to the present day a complete break has occured to the resistance which is one sign of bullish continuation and a move upwards. In addition, if we take a look at the daily timeframe a downtrend had been broken also from the 21st of February to May 28th 2019. Downwards trend being broken equals to an uptrend being created. Looking at the 4 hour chart, an uptrend has been created and a trend support line is also formed. The support trend line has been respected multiple times and a slow and steady upwards move is being made. If we manage to break past the resistance line at 1436.399 Id say that it will continue to push up to around 1500.00. When ever we hit now the support trend line the momentum of the seller's starts to be overtaken by buyers which is another indication of a bullish trend. If people were to place a buying trade id say if we break support the trade would be invalid and movement will occur to the downside.
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