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GOLD
Short
Gold: 12.54% Downside
Rationale
TradingView idea: GOLD: Gold Price Forecast for August 27 for OANDA:XAUUSD by Stone_Haven
TradingView symbol: XAUUSD
XAU/USD H1: Gold is testing a key support zone
XAU/USD is currently trading around 4,605, after declining from the **4,660–4,675** area. On the H1 chart, short-term momentum is leaning toward the sellers, with price trading below the EMA20 and EMA50. However, the bullish structure has not been completely broken yet.
The key area to watch right now is 4,585 – 4,600, where the demand zone and the EMA100 around 4,600 are converging.
If price sweeps down into 4,585 – 4,600 and quickly reclaims …
Key details
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