Facebook
 
 

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

loader

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
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Show more
Can't speak right now?
Ask your question in the chat.