GOLD → Correction continues, possible target 2250

XAUUSD continues to decline within the framework of corrective movement. Sellers are providing strong resistance and at the moment are not ready to let the price go above the key zones.

GOLD → The bulls continue to fight back. Consolidation

Earlier gold showed signs of strengthening, which in general the market evaluated positively and was ready to wait for the achievement of high targets, but as I said earlier it is not worth waiting for growth now. The market is interested in reaching the lower liquidity zones as well as in liquidation of traders in order to balance the market. On the background of consolidating dollar the price of gold is decreasing. The market is waiting for Powell's speech, who will give comments on interest rates. Traders lay in the situation the fact that Powell may give a tough comment on the current situation and leave the rate at the same level.

Support levels: 2305, 2267
Resistance levels: 2328, 2344

Technically the correction continues. This correction is formed on the basis of both fundamental and technical reasons. This week is quite busy and it is worth paying attention to the news, which can determine the medium-term perspective.

Regards R. Linda!

Transaction en cours:

Gold breaks through the support and continues its fall within the framework of the previous idea

Transaction en cours:

Price is testing 2280