GOLD → Retest of the liquidity area in front of the bullrun ↑

22 juil.

XAUUSD in the correction phase. The market is testing the support and liquidity zone within the counter-trend correction. The dollar may continue its downward phase, which would be a bullish leverage for the gold market



In the week ahead it is worth paying attention to the S&P PMI to be released on Wednesday, GDP and Initial Jobless Claims on Thursday and PCE on Friday.
Trump, as the presidential race progresses, has a growing chance of winning. If that happens, gold and cryptocurrencies will benefit on that backdrop. There is not much news today, so gold may test the liquidity area hiding behind 2390-2400. It is also worth paying attention to the new range of 2492 - 2390. Accordingly, if the bulls hold the defense above the lower boundary of this range, we will get a new trading plane.

Resistance levels: 2411, 2420, 2430
Support levels: 2392, 2386

When trading gold, I recommend to always pay attention to the behavior of the dollar index, as it plays the main role in the market. Accordingly, if the dollar will begin to decline to the support with the purpose of breakthrough, in this case we should expect further growth in the gold market

Rate, share your opinion and questions, let's discuss what's going on with ★ GOLD ;)

Regards R. Linda!

22 juil.

Transaction en cours

A false breakdown of the liquidity zone is formed (liquidity capture)
If the bulls hold the support, we should wait for the growth continuation