XAUUSD formed a rally at the end of last week and broke the resistance of the downtrend. The reason is another armed crisis, but in Southwest Asia. 
On Monday, the market opened the session with price strengthening and retesting 2058. The mood of the market is such that the price growth may continue in the medium term. There is no sense to pay attention to the dollar now, temporarily the correlation in the pair is decreasing and fundamentally gold looks quite a strong asset.
Today the volatility may be lower than the daily average due to the fact that it is a holiday weekend in the USA.
Technically, as the market is testing the level of 2050, the price consolidation above this area will form a bullish potential, which in the medium term can push the price to 2070, 2100, 2150. It is also worth paying attention to the moving averages.
Support levels: 2050, MA50+MA200, 2039
Resistance levels: 2058, 2064, 2070
The market is testing the support, against which gold can strengthen on the background of favorable fundamental background for the asset
DXY GC1! Regards R. Linda!
Trade active
Consolidation continues, within which the price may test 2048-2050 before further growth
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🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free 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.