Xauusd Technical Analysis on dated 17-8-2022

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60pips.com

 

xauusd is a difficult currency pair with a lot of technical analysis and forecasting. A few advantages of trading xauusd. More opportunities since it is the world’s most traded currency pair.

 

Pair has the most liquidity which means that not only are there more traders, but they are also more active. Time zones work in your favor because it’s open for trades all over the world, even in countries like China that have restrictions on when you can trade.

 

We need to follow before open a Gold (xauusd) trade by today-

  • Intraday signals are mildly bearish
  • There is scope for mild buying at the open but gains should be limited
  • Horizontal resistance is seen at 1790.00
  • Resistance could prove difficult to breakdown
  • Preferred trade is to sell into rallies

 

  • Today’s trend: Bearish
  • We look to Sell @ 1790
  • Target : 1760