🟡 $XAU USDT: Bears hold the defense under the EMA(200)! What about DXY?
Hi, traders!
🤝 In the market $XAU USDT (Gold), the local rebound has hit a solid iron ceiling at $4,289–$4,290, where the EMA(200) line and the upper limit of the Bollinger Bands run.
🌍 Macro: Additional pressure on gold is coming from the local strengthening of the U.S. Dollar Index (DXY). Due to the inverse correlation with the dollar, every attempt of XAU to rise quickly gets sold off.
📊 Key levels:
Resistance: $4,289.40. As long as we are below it, shorting is the priority.
Targets (Below): the Bollinger middle line ($4,286.50) and the lower band ($4,284.80).
💡 Indicators:
Fast RSI(6) is turning downward from the overbought zone, confirming bulls are running out of steam.
A short with a tight stop under the EMA(200) looks the most systematic.
And what are you doing? Do you short with the trend, or do you wait for a bounce?
Comment below! 👇
DYOR. Not financial advice.
#XAUUSDT
#GoldTrading
#TechnicalAnalysis
#DXY
#BinanceSquare
Hi, traders!
🤝 In the market $XAU USDT (Gold), the local rebound has hit a solid iron ceiling at $4,289–$4,290, where the EMA(200) line and the upper limit of the Bollinger Bands run.
🌍 Macro: Additional pressure on gold is coming from the local strengthening of the U.S. Dollar Index (DXY). Due to the inverse correlation with the dollar, every attempt of XAU to rise quickly gets sold off.
📊 Key levels:
Resistance: $4,289.40. As long as we are below it, shorting is the priority.
Targets (Below): the Bollinger middle line ($4,286.50) and the lower band ($4,284.80).
💡 Indicators:
Fast RSI(6) is turning downward from the overbought zone, confirming bulls are running out of steam.
A short with a tight stop under the EMA(200) looks the most systematic.
And what are you doing? Do you short with the trend, or do you wait for a bounce?
Comment below! 👇
DYOR. Not financial advice.
#XAUUSDT
#GoldTrading
#TechnicalAnalysis
#DXY
#BinanceSquare