Toptrader
XAUUSD price will be volatileThe green price range is a demand area and there should be a certain amount of short positions that will be closed to drive the price rally. I think the price level of $1715-1725 is attractive to me to establish long positions to earn profits due to price swings.
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XAUUSD Technical Analysis1st resistance level $1763-1769
Second resistance level $1775-1786
There was no military conflict between the US and China after the US top brass visited Taiwan and the Chinese Foreign Ministry issued a unilateral and stern statement. In line with market expectations, gold prices are expected to risk aversion decay, there is a possibility of further pullback, such as a rebound to resistance levels can try to short, need to remind us that the political events (events have not escalated to military conflict) is still not over, need to beware of the price upward impulse.
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XAUUSD AnalysisYou can find patterns of price movement in the charts and can know that the current price is rising on the 66 SMA, having pulled back, only to have it rise again. In addition, the U.S. top brass recently visited Taiwan and China is standing by. Miscalculations and misunderstandings between the two countries could lead to increased friction, followed by a local war. So there is reason to believe that XAUUSD still remains strong in this week.
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