Gold price with ingredients to start a bullish wave
XAUUSD suffered a price beatdown from its May 2023 highs of 2079.60 USD. Price has been trading in a falling channel and is now currently at the support band of the channel, coinciding with the support of Feb/March 2023 before it rallied to the May highs.
Friday closed strongly bullish at these levels, signalling interested buyers of the yellow metal. factoring in price action of the US Dollar Index of Friday, potential buyers of the XAUUSD are in the game. The liquidity zone between 1786.60 USD and 1805 USD may act as a magnet to entice Gold bears to give up their last bit of strength before the bulls take control of price.
Friday closed strongly bullish at these levels, signalling interested buyers of the yellow metal. factoring in price action of the US Dollar Index of Friday, potential buyers of the XAUUSD are in the game. The liquidity zone between 1786.60 USD and 1805 USD may act as a magnet to entice Gold bears to give up their last bit of strength before the bulls take control of price.