FX.co ★ XAU/USD, GOLD

Hello traders. XAUUSD GOLD. Gold opened this week without surprises, and bears took the initiative from the opening. However, there is no talk of opening short positions yet. On the hourly chart, indicators support further movement to the north, but one of the lagging indicators has already shifted to the lower zone, and the pair has entered the bearish zone of the channel on a test of the middle Bollinger. It's too early to talk about consolidation here as the test of this middle is ongoing from below. In case of a rebound, there is a possibility of seeing a continuation of the decline, in which case short positions can be opened with an approximate target of 4850 in the short term. On the 4-hour chart, indicators continue to point south, the pair tested the middle Bollinger from below, there was even an attempt to enter the bullish zone of the channel, but it returned to the bearish zone. If there is consolidation here, we may see a decline in the medium term. So for now, I'm just observing.