XAUUSD | Local Retracement

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Initiate Long.

Entry - 1568.538
TP1 - 1594.873
TP2 - 1611.505
SL - 1559.876

Reason: We might have local retracement, because price was rejected by resistance zone and RSI is being overbought. But better not to short the asset, because of we are in an Uptrend and Clobally and Mid term. So I expect the price drop on Ichimoku Cloud support and Long from there.

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Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advise.