#XAUUSD #intraday_trading
Gold intraday outlook (1 hour chart)
Technical analysis:
The RSI, which is above 50, and the MACD indicates an upwards movement.
The price is above MA (50) now, suggesting that an upwards movement may prevail.
Fundamental:
Gold erased gains, heading for its second decline in three sessions as a rebound in U.S. Treasury yields curbed demand for the non-interest-bearing metal.
What the possible outcomes are :
The crucial level is still at
1,810 .
If the price breaks the
1,810 level, we we should expect a continued surge towards the resistance level of
1,826.
A decrease in the price under the
1,810 support level will lead the gold to the following levels of
1,796 and
1,792.
