XAUUSD - Predictions for the coming week
I think that as the market opens, we will see a slight increase in price followed by a slow downward trend. This will lead to Fridays short term support of 1338.53 being tested and if we see this support broken, price will most likely retreat to the 1330-1334 range (light blue box).
Following this the market could either reverse and gain momentum, heading towards 1344.76, or break the upward trend line and lose some of what was quickly gained in the past week.
I am not sure on where a lower support will be established due to the many factors which could contribute to price increase or decrease (a big one being trumps twitter account), however I do believe that the 1344.76 will be tested and broken this week. All thoughts and feelings welcome, provided that someone reads this.
Following this the market could either reverse and gain momentum, heading towards 1344.76, or break the upward trend line and lose some of what was quickly gained in the past week.
I am not sure on where a lower support will be established due to the many factors which could contribute to price increase or decrease (a big one being trumps twitter account), however I do believe that the 1344.76 will be tested and broken this week. All thoughts and feelings welcome, provided that someone reads this.
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