Gold standing at the top zone of the Down Trendline

XAU/USD Down Trend Analysis

Gold is moving in a down trend by forming lower highs, lower lows in 1 hour chart.

Now, market standing at the top zone of the down trend line.

Let’s wait for the confirmation of reversal for entering into the gold trading. Because, gold is standing at the top most price level area now.

NOTE: Always use Stop loss while trading on gold or else you will loss more in short time.

US-China relations help gold to move up and it hits the top zone for 4th time.

Some of the Renewed USD weakness provided an additional boost to the dollar denominated commodities.

Market participants now looking for technical movement for short term trading opportunities.

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It is better to do nothing, instead of taking wrong trades.

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Don't trade all time, Trade Forex only at Confirmed Setup