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Trading signals for #GOLD → Hammer + Bullish Engulfing + Resistance breakout

GOLD Forecast
👑 Ideas For XAUUSD / GOLD #1

📈 GOLD → Hammer + Bullish Engulfing + Resistance breakout

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#XAUUSD increases daily volatility by more than 3% for the first time in 6 months. Friday's opening-to-close session overcomes 3.4% and $63.53. A complex yet obvious situation is taking shape. Let's get a handle on what's going on and what to expect next

In the coming week, important news is published. Worth paying attention to:

• Core Retail Sales & Reatil Sales

• Initial Jobless Claims, FED Chair Powell Speaks

I don't think that the news of the coming week will change the fundamental background of gold, because in times of crisis and instability, the metal attracts a lot of investor interest, as we can see from the price and volume indicator.
On the weekly chart, we see an interesting candlestick pattern: hammer + bullish engulfing on retest of the strong medium-term support at 1809. In tandem with a strong fundamental background, this pattern, also on a high timeframe, plays an important role in medium and long term pricing. On D1 we see a breakout of the downtrend resistance and Friday's close near the 1934 level. The price close indicates to us that the level will be broken in the near term and gold will continue its active movement towards 1950, 1984, 2000

The conflict in the Middle East will not end quickly, no matter how much we would like it to. What is happening now is the development of what has been accumulating for many years. Consequently, we can conclude that against the background of everything that is happening. both in the world and on the chart, the growth of gold is only gaining momentum. The trend is broken

Outlook: Monday may open with a gap in the futures market. A pullback to the downside before further growth is also not excluded. Medium-term growth may continue, in the nearest future the market may test 2000, then 2050

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