XAUUSD SELL Potential: Observed THREE BLACK CROWS Pattern
XAUUSD Analysis
Gold Slumps as USD Strengthens
The price of gold plummeted as the USD gained strength and US Treasury yields rose following inflation data that aligned with market expectations. The market is set to watch a series of data releases culminating in the US non-farm payrolls at the end of this week.
Three Black Crows Pattern
A three black crows pattern is visible on the H1 time frame. Selling opportunities may still be sought if there is a pullback to the entry area within the scope of this pattern.
Prediction: WEAK XAUUSD
Resistance Levels
- R1 2532.00
- R2 2528.00
- R3 2524.00
- R4 2520.00
Support Levels
- S1 2507.53
- S2 2493.72
- S3 2486.60
- S4 2479.39
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