XAUUSD Three Inside Down Hourly Chart
Resistance: 1669.31 minor/1676.33 minor/1680.92 moderate
Support: well below forecasted values
The Hourly XAUUSD chart has a high credibility bearish pattern, Three Inside Down. Though already in a bear market price action is now overextended suggesting caution should be taken for new shorts unless a swing trader. Existing sells however should stay short for possible further losses with a stop loss above the pattern high.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.