as we can see the price touched the first time Fibonacci spot and did a reversal movement.
price did react to the support zone which was a strong one , now needs to have a bullish move and when it touches the 0.786 Fibonacci strong line which is near the resistance zone it goes bearish in a week and a half.
and the other reason can be the RSI indicator which the price is in overbuy zone and it wont stay there for too long and needs to come back.
share your ideas cause i'd like to see your perspective about xauusd chart.
price did react to the support zone which was a strong one , now needs to have a bullish move and when it touches the 0.786 Fibonacci strong line which is near the resistance zone it goes bearish in a week and a half.
and the other reason can be the RSI indicator which the price is in overbuy zone and it wont stay there for too long and needs to come back.
share your ideas cause i'd like to see your perspective about xauusd chart.