FX.co ★ XAU/USD, GOLD

Hello traders. XAUUSD GOLD. Gold closed the past week with another bearish candle, so there is a possibility of continuing the movement to the south next week. However, I am not setting a target far down yet, the main one is 4200-10. On the technical side, on the hourly chart, indicators remain in favor of further decline, but there was a close below the lower Bollinger Band, followed by another local decline, now to the north, around 4380-90, the pair still has debts that it would be nice to reclaim. The Bollinger Band has already shifted here, hinting at the end of the downward impulse and the beginning of a local correction with the aim of testing its lower middle. On the four-hour chart, indicators also favor further decline, but one of the basement indicators has already shown a bullish divergence, hinting at a local correction. Meanwhile, the Bollinger Band continues to expand, so there is a possibility of seeing a continuation of the decline in the medium term.