GOLD → Price buyback, local bull character

4 giorni fa

XAUUSD is in a narrow channel, in consolidation, which complicates intraday movement, but nevertheless traders have a chance for possible growth. There is a lot of important news ahead that may give traders a chance.



Despite the strong intraday movement in gold, we can say that the price is standing still in the range of 2600 - 2660. Quite a difficult place for the price due to the huge density of volumes, levels, tails... Traders are refraining from new directional bets ahead of the release of crucial data on ISM Services PMI and JOLTS job openings in the US.
After a strong fall the price was bought back and returned to resistance 2648 - 2650, most likely further struggle will be for this area. The falling dollar broke the support line, thus giving an advantage to gold.
Gold and the dollar are already starting to feel Trump's power and are reacting to his statements as quickly as they did during the last period of his presidency....

Resistance levels: 2649, 2664, 2674
Support levels: 2632, 2610

Until the price leaves the channel 2600 - 2665, most of the movements will not be very clean (nature of price movement inside consolidation). At the moment the emphasis is on 2649. If the bulls will keep the defense above this zone, then in the short term the price may show growth to the local maximum

Regards R. Linda!

3 giorni fa

Trade attivo

Buyers continue to press the price.
Gold rises from 2645

3 giorni fa

Trade chiuso: obiettivo raggiunto