Downside Prevails
Our Pivot: 1840
Our Preference: Start short selling XAUUSD below 1835.00 with strict stop loss of 1840.00 and profit target at 1828.20 with extension towards 1822 and 1819.
Alternate Scenario: Upward penetration of 1840.00 will call for 1845 and 1849.
NOTE: XAUUSD is moving inside a bearish price channel.
Chart with supports & resistances:
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