Sentiment : 1650 1640
The pair XAU/USD found support on friday on 1630 points. The pair continues to move on the upper band of its medium term bearish channel (purple lines). The pair is still moving below the lower band of its long term bullish channel. Indicators are globaly bearish. We maintain to trade only short positions as far as 1640 points is resistance. The breakout of 1630 and 1620 will both give a new sell signal and open the way towards 1600 points. In case of return above 1640 points, we will wait the breakout of 1650 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