Gold Spot / U.S. Dollar
Long
Updated

Lingrid | GOLD trend CONTINUATION After a Pullback. Long

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XAUUSD market is continuing to push higher, reaching a potential key level at 3050. Prior to this bullish movement, the price formed a consolidation zone near the previous day low. Today's economic calendar is filled with high-impact news, which may introduce some turbulence in the markets. If the market dips lower, the optimal entry zone could be around the previous day's low, as there is resting liquidity below the consolidation zone and at that level. I expect a pullback toward the support level before the market resumes its bullish trajectory. My goal is resistance zone around 3060


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snapshot
The price rebounded from the support zone I highlighted yesterday, while also demonstrating a false break of the last two days' lows. On the lower timeframe, it seems that an ABC corrective move has occurred, typically indicating a potential continuation thereafter. Furthermore, a long-tailed bar on the 4H timeframe signals a rejection at that level, and a triangle patter may suggest that a trend continuation as well. I expect that this weekly candle may close bullish as it retests the 3050 level what we saw last week. My goal is resistance zone around 3047.550

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