Bearish Outlook for XAUUSD – ABC completed, we watch the downside
gold OANDA: XAUUSD
We head into the new week with a bearish outlook on XAUUSD.
The price appears to have completed the corrective ABC structure, reaching the key 0.78-0.88 retracement zone along with the 127% wave A extension – a typical completion zone for corrective moves.
With this confluence in place, we are now watching a potential shift in momentum and the start of a new impulsive move to the downside.
