On the contrary, in case gold closes above 1,672 (200 EMA) on the daily chart and consolidates above this level, we could expect a bullish acceleration and the metal could reach 6/8 Murray (1,687) and even the psychological level of $1,700.
Our trading plan for the next few hours is to buy above 1,645. Alternatively, in case the price breaks and closes below this support on the 4-hour chart, it will be a signal to sell with targets at 1,625.
On the other hand, if XAU/USD reaches 1,658, it will be a good opportunity to sell around this level with targets at 1,645 and 1,625. The eagle indicator is giving a negative signal which supports our bearish strategy.
