FX.co - XAU/USD facing bearish pressure from descending trend line, potential for further drop

2020-06-11T03:45:11

Long-term review

Trading Recommendation

Entry: 1723.66

Reason for Entry: 23.6% fibonacci retracement and Horizontal pullback support

Take Profit: 1697.07

Reason for Take Profit: horizontal overlap support, 61.8% fibonacci retracement

Stop Loss: 1755.79

Reason for Take Profit: 78.6% fibonacci extension, horizontal swing high resistance

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ XAU/USD facing bearish pressure from descending trend line, potential for further drop