FX.co ★ XAU/USD, GOLD

Hello traders. XAUUSD GOLD. Gold has moved quite nicely to the south today, as expected. At the moment, the downward impulse has not been completed yet, and I expect it to continue. On the hourly chart, indicators support further movement to the south, with the Bollinger Band still expanding, indicating the incompleteness of the current downward impulse. However, there was a close below the lower band of the channel, so before continuing the journey south, it would be advisable to settle the remaining debts. On the 4-hour chart, indicators also favor a continuation of the movement to the south, with the Bollinger Band slowly expanding here as well, indicating the development of the current downward impulse. However, one of the basement indicators does not fully support the bearish sentiment, although it does not negate it. Overall, this downward movement is still within the framework of a global pullback, so it's a bit early to talk about a reversal.