👑 Ideas For #XAUUSD / #GOLD
📈 Correction to 4090. What could this mean?
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GOLD after updating its high to 4180, formed a correction and descended to the support zone of 4090, forming an intermediate bottom. We have a trading range...
Key drivers: China has introduced controls on rare earth metal exports, and the parties are holding consultations. A meeting between Trump and Xi Jinping is scheduled for the end of October.
Expectations of two rate cuts before the end of the year are strengthening gold's position. The ongoing government shutdown is fueling demand for safe-haven assets.
Today, attention is focused on Powell's speech, which could set the tone for the market.
The bullish trend for gold continues. The absence of bearish factors and ongoing macro risks continue to push the price up. Corrections are seen as an opportunity to buy.
Resistance levels: 4150, 4180
Support levels: 4117, 4090, 4059
The price is testing the 4150 liquidity zone, which could trigger a pullback within the range. A retest of support at 4117-4090 could support the market, and a change in imbalance could lead to another rally to 4180 - 4200
📈 Correction to 4090. What could this mean?
———————————————
GOLD after updating its high to 4180, formed a correction and descended to the support zone of 4090, forming an intermediate bottom. We have a trading range...
Key drivers: China has introduced controls on rare earth metal exports, and the parties are holding consultations. A meeting between Trump and Xi Jinping is scheduled for the end of October.
Expectations of two rate cuts before the end of the year are strengthening gold's position. The ongoing government shutdown is fueling demand for safe-haven assets.
Today, attention is focused on Powell's speech, which could set the tone for the market.
The bullish trend for gold continues. The absence of bearish factors and ongoing macro risks continue to push the price up. Corrections are seen as an opportunity to buy.
Resistance levels: 4150, 4180
Support levels: 4117, 4090, 4059
The price is testing the 4150 liquidity zone, which could trigger a pullback within the range. A retest of support at 4117-4090 could support the market, and a change in imbalance could lead to another rally to 4180 - 4200

