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Gold Spot / U.S. Dollar
Short

GOLD → Range trading. What is the importance of the 2144 area?

By RLinda
Updated
XAUUSD is trading inside the global range, forming a small flat inside. Consolidation continues and at the moment there is no reason for the price to leave the 2195-2144 channel.

snapshot

On D1 and H4 we see a sideways channel, a range. The market is clearly bullish, but at the moment the price is standing still. On the left side of the chart we see local liquidity zones, which the market maker will gradually reach. But, the most interesting thing is that the main gestalt is not closed yet: the strong support at 2144 has not been tested yet, and neither has the liquidity in this zone. On H1 we see an upward movement. The target of such a move could be the 2180-2185 area, or range resistance with a subsequent decline to targets below. A standard trading situation inside the range is being formed.

Resistance levels: 2186, 2180, 2195
Support levels: 2166, 2150, 2144

Within the mentioned flat, the price is trading between the zones, levels, forming consolidation. There is an important area inside the range, which has not been tested yet, hence, the market may head from the resistance to the indicated liquidity zone below

GC1! DXY MGC1!

Regards R. Linda!
Note
snapshot

Liquidation of sellers. False breakdown of resistance.
Trading inside the range continues.

The target as support 2145-2150 remains relevant
Note
Shake up in the market. Sellers' liquidation followed by a false breakdown form a sell-off. The price returns to the same place where the session opened ;)
The market maker has reached the target located at the top. Now the targets located at the bottom
Chart PatternsDXYFibonacci RetracementFLATFundamental AnalysisGC1! (Gold Futures)GoldSupport and ResistanceTrend AnalysisTrend Line BreakXAUUSDZigzag
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