XAUUSD:
The D1 chart of gold has not been driven by news in the near future, and gold is in a consolidation stage. However, some institutions have recently predicted that the price of gold is expected to rise to 2300 in 2023. On the one hand, investors are gradually losing confidence in cryptocurrencies, and on the other hand, the US economy may gradually enter a recession. All these reasons have contributed to the possibility that gold may once again become the main currency for safe-haven.
The H4 chart is still in the channel range. But the difference is that a small channel has formed in the channel, and the price has already touched the top of the channel, and it is expected to reverse and drop slightly to touch the bottom of the large channel.
Suggestions for ordering:
Enter short at a high level.
All transactions involve risks, the above analysis is for reference only. Be sure to set the number of hands when placing an order and remember to set a stop loss.
