Possible retracement-to-bullish push - XAU/USD - 8/12/20
Bulls look to push price towards 1900, but before then it is possible the market will retrace to key levels marked on chart.
Watch out for all 4 scenarios for possible entries.
Market is overbought on stochastic and cross in moving average favours short-term bearish action before bullish momentum continues.
Dollar index is currently pushing upwards meaning possible short-term falls in XAU/USD.
Bullish trend should resume after retracement, particularly amidst the current US stimulus chase.
Watch out for all 4 scenarios for possible entries.
Market is overbought on stochastic and cross in moving average favours short-term bearish action before bullish momentum continues.
Dollar index is currently pushing upwards meaning possible short-term falls in XAU/USD.
Bullish trend should resume after retracement, particularly amidst the current US stimulus chase.