Gold prices correcting the downside bearish impulse. Bears attacking the bulls commitments at critical support. As per the prior analysis, Gold Price Analysis: XAU/USD bears waiting to pounce, the price has indeed deteriorated as forecasted: 4-hour chart prior analysis Current price Daily chart The daily chart shows that the price has been held up at the 10-day moving average and the 61.8% retracement level of the extended W-formation’s bullish impulse. While there could still be some downside to go, the upside would be expected to resume eventually. Hourly chart Following such a shape drop and the slow correction decelerating to a 38.2% Fibonacci retracement, a downside extension could be on the cards. Weekly chart The wick that has been left as a consequence of the recent price action would be expected to be filled in so long as the week ends bullishly. 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 Breaking: NBC and CBS projects Democrat Jon Ossoff to win Senate runoff race in Georgia FX Street 11 months Gold prices correcting the downside bearish impulse. Bears attacking the bulls commitments at critical support. As per the prior analysis, Gold Price Analysis: XAU/USD bears waiting to pounce, the price has indeed deteriorated as forecasted: 4-hour chart prior analysis Current price Daily chart The daily chart shows that the price has been held up at the 10-day moving average and the 61.8% retracement level of the extended W-formation's bullish impulse. While there could still be some downside to go, the upside would be expected to resume eventually. Hourly chart Following such a shape drop and the slow correction decelerating to a… Top 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.
