GOLD (XAUUSD): Your Trading Plan For Next Week Explained

Gold did not manage to update the All-Time High on Friday,
retracing from a key daily resistance.

The market is now trading within a horizontal range on a daily.

Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios:

Bullish Scenario

If the price breaks and closes above 2943,
a bullish continuation will be expected to the new highs.

Bearish Scenario

If the price breaks a demand zone based on a rising trend line
and a support of the range and closes below that,
a correctional movement will follow.

Alternatively, with the absence of fundamentals,
the market may stay within the range for a while, so be patient.

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