XAUUSD is recovering amid uncertainty, but there is a fairly strong resistance zone ahead that could hold back growth and trigger a decline...Since the opening of the session, the price has recovered slightly after a week-long decline. Growth is being held back by two-sided risks: on the one hand, pressure on the dollar and Moody's downgrade of the US credit rating are supporting the metal, while on the other hand, high bond yields and possible US trade agreements are limiting growth.
Investors are awaiting new statements from the Fed and are monitoring US negotiations with key partners. Amid concerns about fiscal stability and weak economic data, gold may remain in positive territory, but positive trade news could turn it down again.
Resistance levels: 3257, 3265
Support levels: 3206, 3153
A false breakout of the specified resistance will confirm the inability to continue growth. Consolidation after a false breakout of 3257 - 3265 below 3257 could trigger a reversal and a fall to areas of interest...
Best regards, R. Linda!
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GOLD is consolidating in a symmetrical triangle pattern against a backdrop of a downtrend.
If the price moves to support and begins to storm the upward line, this could lead to a breakout and downward movement.
However, the most likely scenario is that the crowd will be provoked to buy (retest of the resistance of the range and channel) before a possible decline.
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.