FX.co ★ XAU/USD facing bearish pressure from descending trend line, potential for further drop

Trading Recommendation

Entry: 1723.66

Reason for Entry: 23.6% fibonacci retracement and Horizontal pullback support

Take Profit: 1697.07

Reason for Take Profit: horizontal overlap support, 61.8% fibonacci retracement

Stop Loss: 1755.79

Reason for Take Profit: 78.6% fibonacci extension, horizontal swing high resistance