GOLD → Price returns to the channel to form a bullish structure

26 Mac

XAUUSD is completing a correction, breaking channel resistance and consolidating above the downtrend line. Traders are waiting for economic data and tariff war actions

Trump confirmed plans to impose retaliatory tariffs on April 2, limiting exemptions. The new duties have raised fears for the U.S. economy, which has weakened the dollar and boosted demand for gold.Markets are also keeping an eye on talks between the U.S., Ukraine and Russia.Focus is also on US durable goods orders data - a strong reading could cool expectations of a Fed rate cut, limiting gold's gains

Resistance levels: 3033, 3045, 3056
Support levels: 3013, 3004

Gold may test the support zone before rising further. The focus is on the current consolidation 3033 - 3013. A key resistance is formed ahead, a breakdown of this zone may provoke a continuation of growth to 3045 - 3056.

Regards R. Linda!

27 Mac

Dagangan aktif

Clearly according to the scenario - false breakdown of support and subsequent growth. +190 pips. The price is testing the consolidation resistance.
If there is no pullback, the next retest may provoke a breakdown and growth