XAUUSD is for buying now within this hour's selling off.
Once the momentum of the current sell-off wanes around $2500, I see more buyers back in the market to push XAUUSD to >$2530 today as it would have touched the Basis of the Bollinger Bands. Volatile day!
- The reversion to mean is done and XAUUSD will be rising now despite the current session's pullback after non-farm payroll induced rise.
- momentum will see the price testing the resistance line of the ascending channel moving away from the ascending mean.
- soon the sharp fall in the CCI will also sharply reverse as there will not be a sustained selling pressure over the next few hours whilst the RSI is already indicating towards oversold GOLD.
- The reversion to mean is done and XAUUSD will be rising now despite the current session's pullback after non-farm payroll induced rise.
- momentum will see the price testing the resistance line of the ascending channel moving away from the ascending mean.
- soon the sharp fall in the CCI will also sharply reverse as there will not be a sustained selling pressure over the next few hours whilst the RSI is already indicating towards oversold GOLD.
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