Title
XAUUSD H4 | Potential bearish breakout
Type
Bearish Breakout
Preference:
XAUUSD could break out of the pivot at 2064.042, the multi-swing low support, and could fall to the 1st support at 2037.288, the overlap support level.
Alternative scenario:
The price could potentially rise to the 1st resistance at 2090.795, the swing-high resistance level.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.