Xauusd analysis on dated 09-02-2022

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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:

  • Trading has been mixed and volatile
  • We have a 78.6% Fibonacci pullback level of 1838.14 from 1853.88 to 1780.33
  • Bespoke resistance is located at 1843.07
  • Preferred trade is to sell into rallies
  • Expect trading to remain mixed and volatile

Recommendation: Sell limit/Sell @ 1835 Target: TP 200+ to 300+ pips

Make the trade