XAUUSD Technical Outlook
XAUUSD hit a new price low in the last trading session of the week, and the market's lack of confidence and failure to reach a consensus to form a synergy has led to repeatedly blocked rallies. Prices are trading below key moving averages, which are unfavorable signals.
On the other hand, the market expects the Fed to use aggressive means to raise interest rates and thus suppress inflation in the future. If buyers come back and trigger a bullish reversal, then the potentially favorable price levels are shown by the black arrows in the chart. Of course the green zone is still a reasonable support range and there is reason to believe that this price range will become a new grab and the long and short sides will fight to the death.
On the other hand, the market expects the Fed to use aggressive means to raise interest rates and thus suppress inflation in the future. If buyers come back and trigger a bullish reversal, then the potentially favorable price levels are shown by the black arrows in the chart. Of course the green zone is still a reasonable support range and there is reason to believe that this price range will become a new grab and the long and short sides will fight to the death.
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