XAUUSD market is slowing down as it approaches the channel border and the resistance zone where the previous fake breakout occurred. The price continues to bounce off the upward trendline, but if it breaks and closes below this trendline, it would confirm the formation of a bearish flag pattern, as I highlighted yesterday. There is also the potential for the price to consolidate within a small range over the next few days, potentially leading to increasing volatility next week. If this occurs, I expect the price to be squeezed within that range before bouncing off the resistance zone. My goal is support zone around 2600Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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The market has formed a range zone, with the last three daily candles consistently rejecting the 2623 level and closing below it. The price has repeatedly bounced off this resistance zone, highlighting its importance. I think the market may try to create a false breakout above the range zone and the downward trendline. In the short term, it's likely that the price will continue to oscillate between the resistance and support levels within a small range. I expect the price at least retest the channel border. My goal is support zone around 2603
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💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.