XAUUSD H1
Price pressure made the market yesterday move in a downtrend and break the support level for last Wednesday. The downtrend starts from the test price at the resistance area of 1790.00 despite moving in a horizontal position.
Today's market price opened below the support level of 1776.00 and there was a pullback early this morning until testing in the area of SBR 1779.00
Through the trend of the market price for the beginning of this morning, the price movement shows a downward trend. From the current candlestick, there is a price decline to form a shooting star in the H1 timeframe.
The nearest support and resistance price areas today are at:-
R1: 1779.00
R2: 1785.00
R3: 1795.00
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S1: 1773.00
S2: 1767.00
S3: 1757.00
Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell. All these trades need to be done using the amount of "initial capital" that is willing to risk.
Finally, to see more active movement it is recommended to wait for trading opportunities in the evening. Have a safe trade.
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