GOLD → Fundamental reasons for growth. Target 2400?
Updated
XAUUSD has been reaching 2354 since the opening of the session amid strong excitement. The price is leaving the trend boundaries and continues to form new bullish ranges. Strong bullish trend is realized on the background of important geopolitical news, related to the crisis in the Middle East, Eastern Europe, as well as a huge interest in hedge gold. World Central Banks continue to buy gold in record volumes.
Technically, gold is forming a small correction after updating the high on the back of bullish momentum from the opening of the session. There is a high probability that the growth will resume from the nearest support area or formal channel boundary.
Resistance levels: 2354, 2375
Support levels: 2328.4, 2303.7, channel boundary
Technically, the situation is complicated, as it is difficult to identify strong reversal zones, as the price is trading in a rally. In such a situation it is worth paying attention to support levels with the purpose of growth continuation, as well as local resistance areas with the purpose of upward breakout
DXY GC1! MGC1! GOLD1! Regards R. Linda!
Note
Correction and retest of supportTrade active
False breakout and pin bar
Impulse and primary movement of +100 pips is formed
Trade active
Price is testing the liquidity block (from correction)The price reaction in the range of 2340-2332 will give us an understanding of the further direction. Most likely we will continue to grow from 2340
Note
The price continues to behave very confidently. False break of support amid correction strengthens gold to 2348Trade closed: target reached
The intermediate target of 2354 has been reached. We are waiting for the continuation of growth Profit +260pips
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