🔥Gold daily update!
XAUUSD finally broke above the descending trendline on the H4 timeframe and reached the 1730 resistance. Currently, the price is trading right under the 100-period moving average and the 1730 horizontal resistance.
I doubt the price will break these levels through right away. Therefore, before the next pump, expect to see a consolidation in the range between 1720 - 1724 where buyers will gain more power.
💡Risk-on idea:
✅You might try to SELL XAUUSD from around 1730 level with short stop-loss with the targets at 1724, 1722, 1720, 1718.
💡Risk-off idea:
✅Consider buying gold only after a breakout above the 100-period MA and 1730 resistance level. In this case targets will be 1740, 1760.
💚 GOOD LUCK 💚
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