Salzworth

Bullish outlook on XAUUSD - 10 March 2023

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Prices have broken above a key resistance zone at 1831.20 on the H1 timeframe, which is in line with the 23.6% Fibonacci extension. A throwback to this zone could present an opportunity to ride the bounce to the resistance zone at 1842.50, which coincides with the 78.6% Fibonacci retracement and extension levels. Prices are holding above the Ichimoku cloud and 20 EMA, supporting our bullish bias.
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