Trade of the Day XAUUSD

XAUUSD is testing the strong upside breakout resistance

 

After the long-term bullish flag breakout at 1860 Gold is testing the strong horizontal upside resistance 1900. A rejection here would lead to a new downside swing pullback. A break above1900 is important for a test of 1965 which was 2021 high. By looking at the price action we can see strong upside support 1885-1895 zone. 

Note: look for a long trade entry upon a break above 1900. Reverse to a short trade in a case of a break below 1885

 

XAUUSD daily price action trading strategy

 

 

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