XAUUSD
bounces off the weekly low of 2,013$ to 2,030$ during the early Asian session on Friday. Nonetheless, the upside of the yellow metal might be limited due to the possibility that the Fed may not begin cutting interest rates as early as expected, which might exert some selling pressure on
XAUUSD
prices. In the near term, and according to the 4-hour chart, the risk skewed to the downside. Technical indicators head south almost vertically within negative levels, while
XAUUSD
develops below all its moving averages. Furthermore, the 20 SMA has crossed below the longer ones, providing dynamic resistance at around $2,029.00. Further slides are to be expected with a break below the $2,000 threshold on the table. Support levels: 2,016.60 1,998.65 1,987.20
Resistance levels: 2,029.00 2,040.30 2,052.30
🌐XAUUSD PLAN January 12
🔴 SELL Price range 2053$ - 2055$. Stoploss: 2059$
🟢 Buy Price range 2002$ - 2000$. Stoploss: 1996$
🟢 Buy Price range 2022$ - 2020$. Stoploss: 2017$ (Asia - Europe session)
Note: Full TP and SL to be safe and win the market‼️
