According to my previous analysis, XAUUSD had a rise to 1729 which is a resistance zone, but price didn’t throwback and retrace as I expected, and grew sharply straight to the target.
Currently, price has been rejected and pushed to the downside from the red resistance zone and is dropping.
Moreover, we can see a bearish reversal double top pattern has been formed below the resistance zone.
I expect a drop to 1700 which is a support level (neckline) for now, and if price could break 1700, the next target for XAUUSD is between 1682 - 1675
Currently, price has been rejected and pushed to the downside from the red resistance zone and is dropping.
Moreover, we can see a bearish reversal double top pattern has been formed below the resistance zone.
I expect a drop to 1700 which is a support level (neckline) for now, and if price could break 1700, the next target for XAUUSD is between 1682 - 1675
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