From many days the gold have been gaining in strength following up a trend line. But now the
XAUUSD
is on the retraction. the question is for how long before we can now buy the pair again. on my analysis the pair have to break down till 2000.733 which is a strong level of resistance and have been tested several time in the past now it turn to be a resistance for a continuation trend. also on the 1 hour chart we can observe a hidden divergence to confirm the signal. with increase of 9,259 position in the long on XAU,and decrease of 2,433 in long on USD.
XAUUSD
is on the retraction. the question is for how long before we can now buy the pair again. on my analysis the pair have to break down till 2000.733 which is a strong level of resistance and have been tested several time in the past now it turn to be a resistance for a continuation trend. also on the 1 hour chart we can observe a hidden divergence to confirm the signal. with increase of 9,259 position in the long on XAU,and decrease of 2,433 in long on USD.