FX:XAUUSD   Gold Spot / U.S. Dollar
Please refer to the charts published last week, you will notice that the levels & zones highlighted are being respected.

Gold is back in a price zone where previously it has spent many days moving sideways (zones highlighted in red boxes) could we do the same again?

We will need to observe how the price behaves in this zone throughout the week.

We are still moving in a descending channel and a rejection from this zone could indicate lower prices.

Gold to become bullish we need to take out liquidity above 1835 and we need to see a change in market structure.

We will be looking for shorts from 1788-1798 targeting the 1765-1750 Zone which can now act as support.


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This is not financial advice.

Comments

Good analysis
+1 Reply
MULTIDIMENSIONALTRADER TRADINGWITHZION
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Smooth chart, thanks for sharing!
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