FX.co ★ king.zelda | XAU/USD, GOLD

XAUUSD GOLD. Hello. Gold yesterday started to show an attempt to develop a bearish sentiment based on fundamentals, but it is clearly too early to talk about a downward reversal at the moment. At the same time, on the hourly chart, indicators have signaled a potential intraday sell-off, but it has not been activated yet. The pair has now approached a test of the middle Bollinger Band from below, so depending on a breakout or a bounce, it will show the further sentiment. However, the pair immediately recovered losses due to closing below the lower Bollinger Band, so there is a possibility that the bears will maintain control. In this case, we may see a continuation of the decline, with the next target at 4180-85. On the 4-hour chart, indicators still point north, but the pair has now approached a test of the upper Bollinger Band. So here too, depending on a breakout or a bounce, it will show the further sentiment. I am more inclined towards a scenario with a breakout and a decline, but it is clearly too early to talk about it, in any case, it is worth waiting for the test result. Additionally, the pair recovered from a price gap that occurred at the beginning of the week, so the scenario of heading south is currently in question.