Gold could visit year's lows
Updated
After a week of erratic movements characterized by spikes both up and down, 
XAUUSD bears succeeded in pushing the price below the 2030 median support level, reaching a low within the 2015 zone.
Subsequently, a reversal ensued, and the price has now rebounded above 2025. However, considering the new fundamental developments and the unlikelihood of a rate cut at the next meeting, Gold may encounter headwinds, potentially leading to further price declines and a revisit to the 2005 low.
Moreover, a break below this level would expose the significant technical support at 1980. The overall market structure remains bearish below the 2040 mark.
XAUUSD bears succeeded in pushing the price below the 2030 median support level, reaching a low within the 2015 zone. Subsequently, a reversal ensued, and the price has now rebounded above 2025. However, considering the new fundamental developments and the unlikelihood of a rate cut at the next meeting, Gold may encounter headwinds, potentially leading to further price declines and a revisit to the 2005 low.
Moreover, a break below this level would expose the significant technical support at 1980. The overall market structure remains bearish below the 2040 mark.
Comment
After reversing perfectly from my sell poin, XauUsd dropped to short term support.A break here would expose yesterday's low.
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