Gold Price Forecast: XAUUSD downside opening up towards $1,850, all eyes on US GDP by Dhwani286 gold xauusd commodity
shows that Wednesday’s sell-off has breached the rising trendline support at $1,901 convincingly, opening floors for more declines in the coming days.
Adding credence to the negative bias is a bear cross validated on the said time frame, as the 21-Daily Moving Average cut the 50-DMA for the downside. The next critical barrier for bulls aligns at $1,900, above which the previous day’s high of $1,907 could be challenged again. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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