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14.05.202109:27 Forex Analysis & Reviews: Daily Video Analysis: XAUUSD facing bullish pressure, potential for further rise!

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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. Price is facing bullish pressure as it holds above both the ascending trendline and moving average support, in line with our bullish bias. We could see price bounce at our buy entry, in line with 61.8% Fibonacci retracement, and rise further towards our take profit levels, in line with horizontal swing high resistance and -27.2% Fibonacci retracement.

*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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