Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1641.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 1669.86
TP2= @ 1682.28
TP3= @ 1703.42
SL= Break below S2
. There is a possibility of temporary retracement to suggested support line (1641.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 1669.86
TP2= @ 1682.28
TP3= @ 1703.42
SL= Break below S2