xauusd analysis on dated 10-03-2022

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Xauusd analysis on dated 10-03-2022. We consider the following parameter when it is analysis. The pair is impacted by ukraine war. So we consider the following:

 

  • Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher
  • A bearish Head and Shoulders is forming
  • Further downside is expected and we prefer to set shorts in early trade
  • Although the anticipated move lower is corrective, it does offer ample risk/reward today
  • Preferred trade is to sell into rallies

 

Recommendation: Sell/Sell limit @ 2005

Target: 1940

 

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