XAUUSD 08.04.2025-Formation of the market:
After the release of the announcement of the introduction of new trade duties in the U.S. and a number of positive economic activity indicators, the dollar is strongly strengthening, thus bringing the price of gold back to the imbalance level of the past growth of 2955, and in general setting a new downtrend, which reduced the position of gold by 5%.
From the imbalance level a pin-bar was formed, which has already recovered its movement to the 3000 level, another test of the 2950 level is possible, followed by a rise.
-Forecast:
On the background of general uncertainty, it is likely that the price may go for a long consolidation, as the past fall may also indicate a capital outflow, which will lead to a new period of accumulation of positions.
Possible return to the level of 3050, but the main movement is likely to occur in the range of 2950-3050
- News background:
The main expectations after the Fed speech are still in favor of strengthening the dollar, even despite the call of the U.S. President to reduce the key rate, most analysts still believe that the May meeting will end with an unchanged decision or increase.
