forecast on XAUUSD

28 Jul 2021

Hello traders, Gold has been trapped in consolidation for a while now, my anticipation on gold is however a sell, were it may be looking to give us a leg, just like the previous move. This anticipated sell may also coincide to complete the 90%rule of the previous ascending structure. The current market structure may also be showing evidence of a head and shoulders pattern, hence this anticipation. I will be looking for a break of the lowest marked zone, to the downside of course, if it however doesn't break, the sell bias will be invalidated. All the best.