GOLD → The rally continues. We are waiting for a pullback to buy

XAUUSD is rallying since the opening of the trading session. The movement has been continuing since Friday, after the end of the correction. The market is realizing the potential for interest rate cuts...

The metal is showing gains for the fifth week in a row, despite the local recovery of the dollar.
Key supporting factors: The forecast of two rate cuts before the end of the year continues to fuel interest. Tensions in US trade relations with India and other sources of instability. Upcoming PCE data on Friday may confirm the need for a soft policy. BUT! Caution is needed, as a short-term correction (profit-taking) is possible after record growth.

Resistance levels: 3730, 3740, 3750
Support levels: 3703, 3685, 3674

The price is in the ATH zone, having come a long way since the opening of the session, and a correction may form. It is dangerous to sell in the current zone, and for trading within the bullish trend, it is worth waiting for a pullback to the nearest local support levels...

Best regards, R. Linda!