🔥 XAUUSD : Bull or Bear ?

Updated

As you can see, the CPI news was announced yesterday and we saw that the actual annual figure (3.2%) was lower than the forecasted rate (3.3%) And this caused the weakening of the dollar index, and as a result, the price of gold dropped by an average of 60 pips to collect liquidity, and after that it faced heavy buying pressure, and we saw that it broke the resistance of $1965 and is currently trading in the range of $1974 ! If you look carefully, the price is moving exactly according to the main and weekly scenario, from falling from $2004 to $1931 to growing from $1931 to $1974 ! According to the price movement, we will probably see the price increase to the range of $1975 to $1985! After that, we have to wait for the reaction to this zone so that we can better predict the next price movement!

Best Regards , Arman Shaban

Note

By checking the gold chart, we can see that yesterday's price was corrected from the range of $1975 and was able to correct up to $1955! Now, if the price can close and stabilize above $1975, we can expect growth up to $1982 and $1988 as the next targets!

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