XAUUSD has been forming a small correction towards liquidity zones since the opening of the session. On the background of strong bullish trend it is quite logical scenario before the news publication. The dollar index is testing a strong resistance before the news and a correction is possible, which will only strengthen the growth of gold. But, it is impossible to determine in advance what kind of news it will be (bullish or bearish for the dollar). Traders expect bullish: ADP NonFarm, ISM PMI, and bearish: SP PMI. Also, the big question is what Powell will say tonight....
Technically, gold is still in a bullish trend. And it may continue after a correction.
Resistance levels: 2288, 2300
Support levels: 2265, 2253, 2228
Technically, the market is bullish. A retest and false breakout of one of the above areas could strengthen the price again. But, the structure may break when the channel resistance (as support) or 2228 is broken, in which case the correction will be prolonged to lower zones.
Regards R. Linda!
Note
Bounce from 2265. 2300 will be reached soonTrade closed: target reached
Note
False breakdown of the psychological level 2300Possible correction
🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.