QSV

QSV

XAU/USD has reached my target at 1616 as the previous idea. For now, it bounces from Weekly support and has a bullish engulfing pattern in the 2-hrs timeframe. So, I expect it will go up maximum to 1648.

QSV Updated 

Globally, XAU/USD is in a downtrend in the Month, Week, and Day timeframes. Locally, XAU/USD is inside a descending channel. XAU/USD got rejected from 1656 with a bearish engulfing in 2-hrs timeframe. So, in short term (next 2-3 days), I expect the price will be down further to 1616. It's weekly support.