GOLD - Consolidation amid a bullish trend. Trigger at 4700

Apr 7

XAUUSD is consolidating above 4,600 as part of a local uptrend. The dollar is in a correction, and the market is picking up on subtle hints of potential negotiations regarding the Middle East...



There are hints of potential negotiations; Trump may withdraw his ultimatum. If this is confirmed, the market may react positively.
The dollar has been in a correction for two days, which is supporting the metal’s price. Focus on the local range of 4601–4700. Gold is retesting resistance (trigger) at 4700; the reaction is important to me. If there is no pullback and the market holds near this zone, a break above 4700 could trigger further growth toward 4800.

Resistance levels: 4700, 4793, 4800
Support levels: 4650, 4600, 4555

Further growth depends on geopolitics. A retest of 4600 before a rally cannot be ruled out, as a large liquidity pool has formed below 4600

Best Regards, R. Linda!

Apr 7

Trade active

Apr 8

Trade closed: target reached