XAUUSD H3 | Market Outlook

- Monday's gold markets giving up the initial gain at the opening as it’s threatening a major resistance area.
The market continues to be very noisy in general, so therefore it makes a lot of sense that we would see a pullback from these extremes. If we were to break down below the 1750 level, then it will show that the breakout was in fact false. However, the market could very well offer up a nice “buy the dip” opportunity over the next several sessions.
- Meanwhile, some traders sold the safe-haven dollar as growing hopes of China reopening boosted risk sentiment. News broke over the weekend that China relaxed virus testing rules in some cities, signaling more easing may come in the nation, which has been under strict COVID-related restrictions for more than two years.