R.Linda Trading - forecast

GOLD → Uncertain market. What should we expect?

GOLD Forecast
👑 Ideas For XAUUSD / GOLD

📈 GOLD → Uncertain market. What should we expect?


GOLD is forming a global range of 2070 - 1810. In a neutral market, the price may head down from the resistance, but we have an unstable fundamental environment.
The market closes the second half of the new week in 2023 in a phase of uncertainty. The price is standing still. @ RLindaTrade After receiving the news, the market quickly buys back the decline or sells off the rise, thus bringing the price back to the current range of 2050 - 2040.

Wednesday through Friday the market receives bullish news for the US market, which technically should drop the price of gold. @ RLindaTrade But the market is already overheated by the Fed's manipulation and is apparently getting ready for further rate cuts, which the US regulators may start in early spring. In this case, the DXY will begin to give up its positions, which will technically strengthen the forex market and including gold, silver and the cryptocurrency market.
On the high timeframe (1 week) we see the strength of buying power in the gold market. There is a reason for everything: fundamentals, geopolitics, problems in the US and European market, high interest in the metal from the central banks of many countries, @ RLindaTrade, which very actively continue to buy the metal

Technically, the price may test 0.382, 0.5, 0.618 fibo by spring before rising further.

The positive sentiment is indicated by frequent resistance retests. @ RLindaTrade Every next retest makes this zone lose strength, which technically brings us closer to the formation of a new bullish range after breaking the 2050-2075 zone.
There is not much news in the coming week, important data may be released in the second half. The market may start the new trading week by continuing to forge a sideways range between 2050 - 2040. But, a breakout of one of the mentioned boundaries followed by price consolidation above or below this level will form momentum towards the mentioned zones.

Support levels: 2040, 2030, 2015

Resistance levels: 2050, 2058, 2069, 2075

The market may be temporarily affected by the bullish news for the US market from last Friday. Gold may start to decline to 2040 and retest 2030 as we saw sell-offs on Friday after stabilization. BUT! @ RLindaTrade, At the moment the market is unstable amidst uncertain potential. Proceed from these levels and your trading strategies.