GOLD → The rally is intensifying. Growth after false breakdown

1 Apr

XAUUSD is breaking upwards and is trying to consolidate above the previous high of 3127 as part of a correction. This would be an ideal support for the bulls. The rally, on the background of political and geopolitical problems only intensifies

Tariff escalation pushes up gold demand. Trump rejected the idea of lowering tariffs and the Treasury Secretary named a list of 15 countries that fall under the new measures. This has caused the dollar to weaken and fears of stagflation to rise, boosting demand for gold as a protective asset.
Central banks and investors continue to build positions in gold, but corrections are possible before the tariffs announcement on April 2 and the release of U.S. economic data
Technically, we have a strong bullish trend, it is risky to sell, we are looking for strong areas or levels to buy. For example, if the price consolidates above 3127, or after a false breakdown of 3119 / 3111

Resistance levels: 3147, 3155, 3166
Support levels: 3127, 3119, 3111

Before the continuation of the growth there may be a correction to the key support areas to normalize the imbalance in the market as well as to capture the liquidity. Consolidation above the level after a false breakdown will be a good signal for growth.
But! News ahead and high volatility is possible!

Regards R. Linda!

2 Apr

Dagangan aktif

False break of support
Impulse on 220 pips!