XAUUSD Forecast 31 Jan 22 - 4 Feb 22
RSAlert issued a Sell signal on Friday prior to opening of US session. Gold tried very hard to carry the bullish trade since December 21, yet only managed to peak at 1853.74, before doing a freefall of $70 in the last 3 days of last week.
This week is bumper week of events; RBA cash rate (Tues), BOE bank rate (Thu), and NFP (Fri). Also in the pipeline are GDP numbers of the Eurozone ahead of ECB meetings.
Technically speaking, with a Sell signal and strength of 60% Bearish, its expected that Gold may extend its bearish slide, albeit after a significant pullback to 1806.38 (good Sell entry), though the SL is at 1910.37. Of course, there are 4 TP levels available. On the prudent side, 1754.15 seems likely, as its the nearest low.
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