Sentiment : 1680 1650
The pair XAU/USD is currently testing the resistance at 1650 points. The pair is testing the upper band of its short term bearish channel (purple lines) and is moving below the lower band of its long term bullish channel. Indicators are mitigated. We continues to advise short positions as far as 1650 points is resistance. A return below 1640 points will comfort our bearish feeling. The breakout of 1630 points will give a new sell signal and open the way towards 1600 points. In case of return above 1650 points, we will wait the breakout of 1680 points to advise long positions.
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom in :
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom out:
XAU/USD (Gold) Live Chart - Timeframe : 1h