XAUUSD, in 4h Tech Analysis Training Diagram look like this:
The XAUUSD pair has found support on 1147 many times in the past until now. Last consolidations are under the KUMO and some SMAs but has not make a break under 1147 long term support until now . On the other head it follows the red line resistance from 18 of June 2015.
MACD has a little side of a divergence but we have a descending triangle.
My opinion on this diagram is to stay aside and keep your money.
I watch the behavior of the XAUUSD only below 1147 for sort positions and above KUMO & MA(100)@1168 for long positions.
If it brakes the red resistance line for 1-2 days it will maybe change its downtrend to uptrend.
The XAUUSD pair has found support on 1147 many times in the past until now. Last consolidations are under the KUMO and some SMAs but has not make a break under 1147 long term support until now . On the other head it follows the red line resistance from 18 of June 2015.
MACD has a little side of a divergence but we have a descending triangle.
My opinion on this diagram is to stay aside and keep your money.
I watch the behavior of the XAUUSD only below 1147 for sort positions and above KUMO & MA(100)@1168 for long positions.
If it brakes the red resistance line for 1-2 days it will maybe change its downtrend to uptrend.
