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XAU/USD Weekly Technical Analysis from 02-06 July 2018

XAU/USD Weekly Technical Analysis from 02-06 July 2018

Instrument XAU/USD
Time Frame D1
Trending Down move and lower uptrend line has been broken down,
200 DMA Prices have been broken down the 200 DMA and trading faraway now
MACD Lower zone and losing up momentum
Pivot Point prices are trading below S3 was broken down
Elliot Wave Type  Corrective in large degree, E leg finished, expecting the price action will resume its lost
Swing Type Lower high and prices are pushing downwardly; Lower lows is formed and expecting for a upswing
Price action  Pin bar identified, strong.
Notes As the support level at 1248.xx was reached and well supported, it is recommended to long now.
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