XAUUSD
Hello traders,
For the upcoming week, I am anticipating bearish momentum in the gold market. I will be monitoring for a potential move up to the Fibonacci levels, as well as considering the presence of a strong resistance zone. Additionally, I will be closely observing the DXY (US Dollar Index) for a break above 100.000, as this could potentially indicate bullish momentum for the dollar.
The take profit areas I am considering are the Fibonacci levels of -0.27 and -0.681, which coincidentally align with the main level at 1950.00. These levels present potential targets for capturing profits in the trade.
However, it's important to remain cautious of any news regarding the dollar, as such developments can swiftly alter the market's direction.
Trade closed: target reached:
95 pips profit lets go