👑 Ideas For #XAUUSD / #GOLD
📈 Correction (hunting for liquidity) before growth
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GOLD is testing $5,400 during the Asian session amid escalating tensions with Iran, but the market continues to correct within the range. Manipulation???
Escalation in the Middle East is only gaining momentum, which only increases interest in hedging assets. However, markets are lowering expectations for Fed rate cuts due to the risk of inflation being driven up by expensive oil. Against this backdrop, the strong dollar is putting pressure on markets.
Upcoming events: Development of military action (the next 24 hours are critical). On Friday, US employment data (NFP) will be released, but geopolitics remains the main driver.
Technically, as part of the developing countertrend correction, the focus is on key support zones such as 5300, 5280, and 5240.
Resistance levels: 5375, 5393, 5420
Support levels: 5303, 5281, 5238
Gold continues to correct, which in the current tense geopolitical situation looks like manipulation to accumulate liquidity before continuing to grow. A retest of support (areas of interest) could return the market to an upward movement
📈 Correction (hunting for liquidity) before growth
———————————————
GOLD is testing $5,400 during the Asian session amid escalating tensions with Iran, but the market continues to correct within the range. Manipulation???
Escalation in the Middle East is only gaining momentum, which only increases interest in hedging assets. However, markets are lowering expectations for Fed rate cuts due to the risk of inflation being driven up by expensive oil. Against this backdrop, the strong dollar is putting pressure on markets.
Upcoming events: Development of military action (the next 24 hours are critical). On Friday, US employment data (NFP) will be released, but geopolitics remains the main driver.
Technically, as part of the developing countertrend correction, the focus is on key support zones such as 5300, 5280, and 5240.
Resistance levels: 5375, 5393, 5420
Support levels: 5303, 5281, 5238
Gold continues to correct, which in the current tense geopolitical situation looks like manipulation to accumulate liquidity before continuing to grow. A retest of support (areas of interest) could return the market to an upward movement

