Dear traders!
As Ryder mentioned in last week's analysis, EUR is currently in a corrective recovery phase, receiving support at $2328. However, overcoming the $2375 resistance seems challenging and remains on target.
Currently, XAUUSD is trading steadily below immediate resistance at $2355 and there are no signs of a reversal in the pair's trend yet. It seems like the downtrend has officially returned after last week's breakthrough. According to the excellent 34.89 EMA tool from Trading View, after the recovery period and reaching the above resistance zone, I expect gold to continue moving downward. It is expected that this decrease will reach 2,281 USD.
As Ryder mentioned in last week's analysis, EUR is currently in a corrective recovery phase, receiving support at $2328. However, overcoming the $2375 resistance seems challenging and remains on target.
Currently, XAUUSD is trading steadily below immediate resistance at $2355 and there are no signs of a reversal in the pair's trend yet. It seems like the downtrend has officially returned after last week's breakthrough. According to the excellent 34.89 EMA tool from Trading View, after the recovery period and reaching the above resistance zone, I expect gold to continue moving downward. It is expected that this decrease will reach 2,281 USD.
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