Gold is still safe, unlikely to fall deeply at the present time
Updated
#XAUUSD Scenario for today
I/ waiting for the opportunity to buy up.
XAUUSD price continued to have a strong correction yesterday. After reaching the 1960 support zone, gold is showing signs of rebounding. Today it is possible that the price will sweep down to this area again to form a double bottom pattern and then turn back up. Recommended to wait to buy when prices rise to 1960, Volume: 1952, TP: 1980
II/
The dollar's sell-off last week was extreme and it recovered yesterday and through the European session
Yesterday gold had a slight correction to the 58 area and then bounced back to correct, we can observe that the current price could be an accumulation zone for the price to continue to increase or a redistribution to The price dropped again to the 3x area, milestones to note today
*Note: the price is reacting in the 68-69 zone, there will be 2 scenarios: if the price breaks up, it proves that yesterday's down wave is a corrective down wave. If the price breaks down, I forecast the price will return to the zone. 3.x
*support zone 𝟔𝟒: this is the area where I watch to buy with a margin of 30-40 pips
*support zone 𝟓𝟖-𝟓𝟗: This is a fairly hard support zone that yesterday's price did not penetrate to return to the 3x zone. Here you can consider buying if the wave weakens.
*resistance zone 𝟕𝟓: This is the area where you sell after yesterday's price distributed in this zone and dropped sharply to the 58 zone.
*resistance zone 𝟖𝟏: This is the area where you can sell if the price breaks out through the 81 zone
I/ waiting for the opportunity to buy up.
XAUUSD price continued to have a strong correction yesterday. After reaching the 1960 support zone, gold is showing signs of rebounding. Today it is possible that the price will sweep down to this area again to form a double bottom pattern and then turn back up. Recommended to wait to buy when prices rise to 1960, Volume: 1952, TP: 1980
II/
The dollar's sell-off last week was extreme and it recovered yesterday and through the European session
Yesterday gold had a slight correction to the 58 area and then bounced back to correct, we can observe that the current price could be an accumulation zone for the price to continue to increase or a redistribution to The price dropped again to the 3x area, milestones to note today
*Note: the price is reacting in the 68-69 zone, there will be 2 scenarios: if the price breaks up, it proves that yesterday's down wave is a corrective down wave. If the price breaks down, I forecast the price will return to the zone. 3.x
*support zone 𝟔𝟒: this is the area where I watch to buy with a margin of 30-40 pips
*support zone 𝟓𝟖-𝟓𝟗: This is a fairly hard support zone that yesterday's price did not penetrate to return to the 3x zone. Here you can consider buying if the wave weakens.
*resistance zone 𝟕𝟓: This is the area where you sell after yesterday's price distributed in this zone and dropped sharply to the 58 zone.
*resistance zone 𝟖𝟏: This is the area where you can sell if the price breaks out through the 81 zone
Note
BUY XAUUSD 1963-1965 💸✔️TP1 1970
✔️TP2 1975
⚠️SL 1959
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