XAUUSD reaches the 2400 mark on Friday before facing a profit-taking. There is a possibility that traders closed positions before the strong news that occurred from Saturday to Sunday. 
There is no correlation with the dollar now, which makes it easier for technical analysis. In fact, we have a strong bullish trend and strong support in the form of the 2325-2330 zone and an ascending channel line. From Saturday to Sunday there was the development of another geopolitical problem in the Middle East and it is related to the armed crisis between Iran and Israel, which in general can only affect the appreciation of the metal.
Resistance levels: 2365, 2375
Support levels: 2335, 2330, 2325
In general, we should consider a retest of the trend support or 2330 and look at the price reaction to these levels. Most likely, the trend may continue.
Regards R. Linda!
Note
By the way, from the fundamental nuances:Core Retail Sales and Retail Sales are released today at 12:30 GMT
1) CRS expected 0.5% instead of 0.3%
2) RS is expected 0.4% instead of 0.6%.
If the data is close to expected, the backdrop will remain the same.
A reading above expectations will be positive for the dollar
Readings below expectations will be negative for the USD
Trade active
On the background of the news, the price may test support levelsNote
Support retest and rebound
Note
Excellent realizationFalse breakout and rebound at 370 pips
Trade closed: target reached
Interim target achieved (+590 pips)Bulls continue to hold the market
Fundamental and geopolitical nuances play a huge role on the interest in gold
Trade active
Local consolidation is forming and the market is ready to go higher. We are waiting for a test of 2400
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🌹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.