Technical analysis
XAUUSD has turned bullish on the four-hour time fram as a large inverted head and shoulders pattern has finally been ignited to the upside.
The four-hour time frame also shows that the MACD indicator has turned bullish, with the MACD histogram and signal line starting to trend higher.
What the possible outcomes are
In our most likely scenario, XAUSUD advances towards the $1,860 level as a large inverted head and shoulders pattern plays out to the upside.
Alternatively, XAUSUD may test towards the $1,810 level on final time before starting to advance towards the mentioned upside target of $1,860.
Key levels
Support $1,810 $1,800
Resistance $1,845 $1,860
