Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1731.0). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 27.
Take Profits:
TP1= @ 1711.43
TP2= @ 1691.60
TP3= @ 1670.30
SL: Break Above R2
. There is still a possibility of temporary retracement to suggested resistance line (1731.0). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 27.
Take Profits:
TP1= @ 1711.43
TP2= @ 1691.60
TP3= @ 1670.30
SL: Break Above R2