FX:XAUUSD is trading exclusively in a bull market. Quick and temporary reactions to the news are quickly exhausted and buyers regain the upper hand on the metal's price.
Yesterday the price made another retest of the support at 2330, which has the status of an intermediate bottom. This area held the price and after that the market returned to its true direction. On the background of activity of dynamic buyers the price tests 2390 and forms correction to the support. From 2365 the continuation of growth within the uptrend is also expected. Today from the news only the speech of the head of the Fed at 17:15 GMT.
Support levels: 2365, 2330 Resistance levels: 2390, 2400
Technically, a retest of the support is forming on the background of the uptrend. The 2365 area plays an important role, as the market earlier emphasized the presence of this area. A false breakdown before further growth is possible.
Regards R. Linda!
Trade active
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Bulls successfully hold the 2365 area
Trade closed: target reached
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Comment
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Correction and support retest is formed
Trade active
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A selloff is forming and price is not ready to go through 2400 yet. We follow the further behavior of the price