R.Linda Trading - forecast

GOLD → Trading within the range between levels

GOLD Forecast
👑 Ideas For XAUUSD / GOLD

📈 GOLD → Trading within the range between levels


GOLD is forming a correction after a false breakdown of the resistance of the range. Against the backdrop of a strengthening dollar index, pressure from resistance appears in gold
The market is starting to bet that the Fed will not cut rates this year. At the same time Bostic (Fed) said he now expects only one Fed rate cut this year following Powell's comments about a pledged 0.75% cut in 2024.

Gold on D1 in the 2195, 2148 range. The candlestick setup is bearish and most likely inclined to see the decline continue. The target in this case is the area of 2150-2145. On H1, the market is forming pressure from sellers on the background of strengthening dollar index.

Resistance levels: 2172, 2177

Support levels: 2166, 2156, 2150, 2144

Technically, within the range gold may test the liquidity area 2150-2145 as it is a tidbit for both market maker and traders at the moment