30.11.202011:05 Forex Analysis & Reviews: Daily Video Analysis: XAUUSD is approaching resistance, potential for further drop!


Today we take a look at XAUUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. XAUUSD is facing bearish pressure and is approaching our resistance level at 1778.63, which is line with our 23.6% Fibonacci retracement level, where it could potentially drop further to our support level at 1752.64, in line with our 127.2%, 78.6% Fibonacci extension levels, and -27.2% Fibonacci retracement The EMA (34) also shows bearish pressure in line with our analysis.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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