FX.co ★ king.zelda | XAU/USD, GOLD

Hello traders. XAUUSD GOLD. Gold slowly moved north yesterday, but only within the scope of a downward halt. At the same time, I am still expecting a move to the south, but there is no talk of a major reversal yet. On the hourly chart, the indicators are still in the process of forming a sell signal, with the pair attempting to consolidate in the bearish zone of the Bollinger Channel. If the bears succeed, it may be possible to consider opening the first short positions intraday with an approximate target of 4020-25. However, in any case, it is worth waiting for more complete confirmation from the technical aspect. On the 4-hour chart, the indicators fully support further movement to the south, indicating that the pair seems to have completed its correction and started a new downward wave. I won't definitively claim this, so I am only looking south in the short term. Although there is a possibility of a downward move in the medium term as well.