GOLD → False breakdown and retest give mid-term targets
XAUUSD is forming a signal that gives us insight into further medium-term potential. The market is trading within a descending price channel. Strong 
DXY continues to put pressure on the XAU price
There is quite a lot of news published in the coming week. It is worth paying your attention to the following:
- 13.09:
- Core CPI
- CPI (MoM) & (YoY)
14.09: - Core Retail Sales
- Initial Jobless Claims
- PPI
On the global timeframe we see a broad sideways flat formation. At the moment there is a potential for a decline towards 1800 in the medium term, and even towards 1700 or 1600 in the long term - standard trading strategies determine the trading potential within the flat.
On the daily timeframe we see a false breakdown of the descending channel resistance. After two bearish candles the market forms a shakeout and a retest of the trend resistance, but a new signal is formed - a candlestick pattern with a long candle, which is also a prerequisite for a red market.
Local support level is 1915, in the first half of the trading week the market may test this area with a high probability of further breakout and realization of accumulated potential for further decline to the lower boundary of the channel or flat
GOLD GOLD DXY XAUUSD GC1! Regards R. Linda!
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
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