R.Linda Trading - forecast

Trading signals for #GOLD → Bounce off support. How long will it last?

GOLD Forecast
👑 Ideas For XAUUSD / GOLD #1

📈 GOLD → Bounce off support. How long will it last?

➖ ➖ ➖ ➖ ➖

#XAUUSD forms a false breakout of support late Friday, after which the market buys out the entire decline and forms an almost bullish takeover, closing Friday above Monday's close and the entire weekly consolidation
The euphoria from the NFP (negative news for the dollar), may not last that long, and after a small technical correction, the main movement may continue. There are several reasons for this.

The main fundamental background for the dollar index is bullish, Powell (FED) is not going to lose momentum yet, as in every address there are always references to the rising inflation and the tight market, which they are trying to fight. By the way, there are several important news items being published this week. Worth paying attention to:

• PPI (Mom), FOMC Meeting Minutes

• GDP, Core CPI, CPI, Initial Jobless Claims
The DXY is forming a correction. The previously broken resistance at 105.272 may be tested soon. Most likely from this level, based on the global fundamental background, the growth may continue, but first we need to wait for the fundamentals of the coming week and a retest of the level from a technical point of view.

Regarding gold. From a technical point of view, the market has not reached the mentioned target. I am interested in the 1809 level, below which there is a huge pool of liquidity that beckons market managers. Gold, even with increased liquidity on the news, does not reach this area and reverses. Friday's candle forms the preconditions for the local growth to continue on Monday (it is worth paying attention to the level of 1829-1830, which can be bought against)

The nearest target for local maneuver is the level of 1856. But in the medium term, I continue to wait for further decline, especially to the level of 1809 and 1800, as the US monetary policy is still tight to reduce the cost of production, so after a small pullback, the growth of the dollar and the fall of gold may continue

➖ ➖ ➖ ➖ ➖



🟡 How do I join the VIP🔅

Join the VIP channel 🟢

🗣 Top FOREX Broker 🌟


💬 My Contact - Ask Linda✅️

💻 Web - RLinda.com