Review of XAU/USD

Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span line is below the price chart; current Kumo-cloud is descending. The pair has broken down the cloud, then slowed down its fall and been corrected above the red line, which is now a support level (1174.70). The closest resistance level is Kijun-sen line (1186.81).