XAUUSD: Start of decline

XAUUSD, H4

On the H4, XAUUSD broke through the global trend line, retested it, and rebounded again. Momentum fell below 100.0 again, making a further decline possible.

We are considering selling XAUUSD if it falls below 4035 with a target of 3970.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Egor Schmidt

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