XAUUSD
Hello traders,
Today, we witnessed a strongly bullish move in the gold market. However, for tomorrow, I'm shifting my focus towards a potential bearish trade setup. There's a substantial resistance zone around 1980.00, which interestingly aligns perfectly with the Fibonacci retracement level of 68%. For a more confident bearish stance, I'll also be closely monitoring the DXY (US Dollar Index) for a bullish move above 100.000, as it could influence the gold market in a downward direction.
However, it's important to remain cautious of any news regarding the dollar, as such developments can swiftly alter the market's direction.
Trade active:
moved stopploss into breakeven