XAUUSD has been updating the local minimum since the opening of the session and confirms the bearish nature of the market. The price is heading towards the area of interest and liquidity before a possible declineToday the focus is on the news: S&P PMI, ISM. Traders are expecting relatively warm data, but, at the moment, everything revolves around the perception of inflation news regarding the inflation itself in the Fed's further view on monetary policy. High volatility is possible.
Technically, on D1 gold is trading in bearish territory and at the moment, after updating the local low, the price is heading towards the liquidity zone, from which the sell-offs may increase. There is a possibility that before further decline the price may go deeper, for example, to test the imbalance area, as well as the previously broken channel boundary (liquidity capture).
Resistance levels: 2332, 2341, 2346
Support levels: 2325, 2315, 2306
It is possible that the situation may change, as traders are overreacting to inflation-related news, but at the moment, on the high timeframe is formed exclusively bearish setup on the negative fundamental background.
Regards R. Linda!
Trade active
A bounce from 2340 is formingTrade active
The rebound from the mentioned resistance zone brought us +210 pips. The situation is still relevant...
Trade active
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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.