Contributors Technical Analysis XAUUSD Is Possibly Bearish

XAUUSD Is Possibly Bearish

Technical analysis

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

The RSI(14) and the RSI(3) point to a possible upwards correction

The Ichimoku indicator displays a prevailing downtrend.

Most likely scenario – SELL

Target prices: 1,783 1,778

Alternative scenario – BUY

Target prices: 1,791 1,795

Key levels

Support 1,783 1,778

Resistance 1,791 1,795

 

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