XAUUSD will drop further to find a strong support 1785 then 1765
Market Instrument: XAUUSD
Timeframe: H4
Analysis: Technical
Structure: Support and Trend line Breakout
Prediction: Bearish
We have seen a strong bearish follow in gold prices recently where the picked up trend line on H4 has now breached with a strong move to the downside. Here I believe the next strong support is holding close to the 1760 area. If the bearish pressure remains stronger we will see a further drop following 1785 then 1765 accordingly.
Timeframe: H4
Analysis: Technical
Structure: Support and Trend line Breakout
Prediction: Bearish
We have seen a strong bearish follow in gold prices recently where the picked up trend line on H4 has now breached with a strong move to the downside. Here I believe the next strong support is holding close to the 1760 area. If the bearish pressure remains stronger we will see a further drop following 1785 then 1765 accordingly.