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    HomeContributorsTechnical AnalysisXAUUSD Is Possibly Bearish

    XAUUSD Is Possibly Bearish

    Octa
    By Octa

    Technical analysis

    The price is under EMA(24) and EMA(120), suggesting a prevailing downtrend

    The RSI(14) and the RSI(3) points to a downwards correction

    The candlestick analysis dictates a downwards movement.

    Most likely scenario – SELL

    Target prices: 1,795 1,791

    Alternative scenario – BUY

    Target prices: 1,800 1,806

    Key levels

    Support 1,783 1,791 1,795

    Resistance 1,800 1,806 1,811

    Octa
    Octahttp://octaengine.com/c/?p=203&bt=gif&b=2369
    Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

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