XAU/USD bears are lurking at a critical level of resistance. Considerable downside prospects are exposed on a downside continuation. Gold is correcting from a significant area of support as pressures mount in general and the focus can be on an optimal shorting point as price meets a significant area of confluence. The following illustrates where price meets a 38.2% Fibonacci retracement meeting prior support. Hourly chart 15-min chart According to the 15-min time frame, there are prospects of a meanwhile upside correction before heavy supply applies. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD Price Analysis: Bulls lack upside conviction at daily resistance FX Street 2 years XAU/USD bears are lurking at a critical level of resistance. Considerable downside prospects are exposed on a downside continuation. Gold is correcting from a significant area of support as pressures mount in general and the focus can be on an optimal shorting point as price meets a significant area of confluence. The following illustrates where price meets a 38.2% Fibonacci retracement meeting prior support. Hourly chart 15-min chart According to the 15-min time frame, there are prospects of a meanwhile upside correction before heavy supply applies. Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
