chuginov

Bearish setup for XAU/USD 4hr

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Bearish idea for Gold - Although XAU received a boost from the recent NFP report, technical barriers lie ahead. This setup indicates a potential reversal of the recent uptrend channel at fib 23.6 / recent high at around the 1790 mark. Should this scenario play out, support should be found at around 1775 and 1765.