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HomeContributorsTechnical AnalysisXAUUSD Is Possibly Bearish

XAUUSD Is Possibly Bearish

Octa
By Octa

Technical analysis

The price is under EMA(24) and EMA(120), suggesting a prevailing downtrend

The RSI(14) and the RSI(3) point to a possible upwards correction

The Ichimoku indicator displays a prevailing downtrend.

Most likely scenario – SELL

Target prices: 1,786 1,783

Alternative scenario – BUY

Target prices: 1,791 1,795

Key levels

Support 1,783 1,786

Resistance 1,791 1,795

Octa
Octahttp://octaengine.com/c/?p=203&bt=gif&b=2369
Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

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