XAUUSD is testing 1820 again
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XAUUSD is testing the strong downside resistance. This is the long-term uptrend line 1820 resistance being tested after the strong rejection from 1920 in the last three months. A break below this level could lead to an accelerated reversal lower to 1700.
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The weekly chart reveals a falling trend line formed, pushing the instrument for another breakout below 1820 that will end the squeeze consolidation from the beginning of May. Now only a break above 1870 can lead to invalidation of the downside reversal.
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On a daily chart, we can see a good RR trade opportunity Already a member? This article is so good, it’s for premium members only.
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