R.Linda Trading - forecast

Trading signals for #GOLD → The scenario for the medium term is 75% defined

GOLD Forecast
👑 Ideas For XAUUSD / GOLD

📈 GOLD → The scenario for the medium term is 75% defined

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#XAUUSD was in a wide range of consolidation all last week. The market was accumulating potential and waiting. And it was waiting for news and reaction to the facts from the U.S. market and the dollar index. At the moment, with a high degree of probability the scenario is defined
In the coming week, there are several important news items that are worth paying attention to:

• Fed Chair Powell Speaks

• Initial Jobless Claims, Fed Chair Powell Speaks

• GDP (YoY), (MoM), (QoQ)

Too much Powell this week, I don't think he will say anything substantial, but on the back of NFP data analysts are increasingly talking about a possible first rate cut (tentatively by 0.25%)

On the chart I also noted a few signs of further growth. The market is closing Friday near the 1997 resistance and we have plenty of reasons to see a breakout of this area soon.

Price is still in consolidation. The first boundary that limits us from further growth is at 1997.3, the next one is the consolidation resistance at 2008.7. If these lines are broken, the price will head towards 2025, then towards 2050

The strong supports to pay attention to at the moment are: 1990 and 1984.4. Now the market is forming an upward bullish potential relative to the 1995-2000 zone. The market continues to test the resistance for a breakout and is preparing to do it soon, and in addition, the gold price is strongly supported by the weakening dollar on the background of NFP

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