xau-usdTrend is bullish in 1 hour time frame. The intraday support could be seen at the price level of 1178.37 level. Yesterday, the price of XAU/USD tried to rise sharply with a gap which looks like start of a bullish trend. As long as the flow of market remains up, I am interested to take buying trading opportunities. If bearish candlestick closes below 1178.37 critical support level then up trend is going to end. Hence, I might like to quit trading XAU/USD and redo the 1 hour chart analysis.

By FXOpen