#XAUUSD M15
The rise occurred last night after the market price tested the support level of 1725.00 and failed to break and then passed a confirmation reversal on the M15 timeframe. An increase of $ 40 occurred from the lowest price to yesterday’s highest price. So through today’s chart what is the potential that could happen at the current price at the moment? I see from the trend of the market price which is dominated by the uptrend as well as there was a clear set up early this morning after the market-tested on the trendline area as well as at the price of 1752.00 In addition, the market expects to continue the rise guided to the test level at the nearest resistance area between 1755.00 - 1752.00 and 1746.00
This is one of the closest support areas that can be retraced because in the current situation the price has entered the horizontal zone. If choosing the current market to trade I advise putting confluence on every trade made so that you can see more clearly what will happen after that. From the overall picture, the market can rise again up and there is a breakout at yesterday’s highest price in the event of a breakout at that level. Follow us to always know the science of trading as well as the latest updates on technical analysis & fundamental analysis www.moneylifeconsulting.com
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