XAUUSD has recovered after a bearish distribution. The price has returned to the range but continues to test the fundamental threshold of 3200.The fundamental background has been gradually improving recently, which is putting pressure on the gold market, increasing the profit-taking ratio and the level of sales. After the resolution of the tariff war, all attention has shifted to the negotiations between Russia and Ukraine, and de-escalation could also reduce economic risks. As well as the escalation of the conflict in the Middle East...
Technically, the price is returning to the range after a deep false breakout but is facing strong resistance and pressure from sellers. Further developments depend on the 3200 level, which is of fundamental importance.
Resistance levels: 3225, 3236, 3257
Support levels: 3204 - 3200, 3194
The battle for the 3200 area continues, with bulls likely to try to keep the price above 3200, in which case the market may test the 0.5-0.7 Fibonacci zone. However, given the recent improvement in fundamentals, the price may return from these zones of interest to 3200 with the aim of continuing the assault to break through and continue the downtrend.
Best regards, R. Linda!
Trade active
Gold is falling without a pullback, which is a fairly positive sign
By the end of the session, the price is forming a correction due to uncertainty in the fundamental background (local scenario)
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🌹TRADING is a CASINO💔!?
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🟢Telegram Channel: t.me/RLindaTrade
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Related publications
Disclaimer
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