In daily and 4h time frame the xauusd has been in the descending channel. During the past 147 candle of 4H time frame (the past 32days).
It could not reach a higher price level. It has also hit the Ichimoku support zone seven times in daily time frame and we see weakness in its trend.
According to our last week analysis gold exactly hit it's 2368 resistance which...
In the daily time frame xauusd trend is in its downward movement, it is in its support zone (2286) which is a strong support.
After that we expect it to reach to the zones which are mentioned in the chart.
If it loses its support zone (2276), it will definitely reach the 2210 price range.
We expect xauusd price continues its downward movement to the support zone (2300 to 2312) and back upward to resistance zone (2374 to 2364). Then the price will fall again to the support range of 2334.
