OANDA:XAUUSD continues to execute active movements in the direction of price strengthening. This time the price is testing the resistance 1987.5, which indicates a high bullish potential and a strong trend
The price is forming a correction after the impulse. In the zone of interest we have the level of 1981. The price is testing the support and if the market can hold this area, the price will head towards 1993 in the nearest future. A false breakdown scenario is possible and in this case the price will go to the support of 1970 before further growth. On the background of weakening dollar and news about weak inflation, the price of dollar is falling, which positively affects the price of gold. In the future, after fixing the price above 1981.7, such targets as 1993 and 2000.
Support levels: 1978, 1970 Resistance levels: 1981.7 At the moment the key role is played by the level of 1981.7. The price may continue to test the area for a breakout in the near future, or make a rebound, but on the subsequent retest of 1981.7 the level may be broken and the price will show an impulse to 1993
Hi Rlinda. you ignored fundamental data market not faver you. 🙁👇
RLinda
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@princesaif85, Fundamental format is partly guessing and even more so when there are no key factors in the form of approximate or exact numbers.
I did not take it into account because nothing was clear
Price movement is within the framework of analysis. The correction is being formed and it is taken into account in the analysis
princesaif85
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@RLinda, accept this time u r wrong if u not aware how the fundamental data change market direction.U always analysing just technical view but i prefer fundamental and u said what is the key factor judge the data so look US market performance.
you ignored fundamental data market not faver you. 🙁👇