Xauusd analysis on dated 11-02-2022

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We consider the following thing on analysis upon xauusd (Gold) on dated 09-02-2022 as per the Chart and upcoming Global news:

  • Our outlook is bearish
  • Levels close to the 78.6% pullback level of 1838 found sellers
  • A firmer opening is expected to challenge bearish resolve
  • The bias is still for lower levels and we look for any gains to be limited
  • Preferred trade is to sell into rallies

Signal Type: Intraday

Recommendation: Sell limit @ 1834 TP 1818 and TP 1800