XAUUSD: Trendline Support

XAUUSD, H4

XAUUSD is navigating within a trendline and retesting it.
The Momentum oscillator crosses the 100-line down, however the 50-MA giving an extra layer of support for the asset, giving a mixed sentiment.

If the price breaks above the 2655, it will trigger a rise to 2685 resistance.
However, breaching below the trendline will drop the asset the 2575 level.

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: Timur Yurdagyul

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