R.Linda Trading - forecast

Trading signals for #GOLD → Negative fundamental background. Shakeout

GOLD Forecast
👑 Ideas For XAUUSD / GOLD

📈 GOLD → Negative fundamental background. Shakeout

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XAU surprised many people yesterday, but not us. On the background of the previous days analysis (technical + fundamental) we had an idea about further actions on the market
In brief: Powell left the rate unchanged, but there were a lot of words that if the market remains aggressive, they will apply appropriate measures. And considering the fact that based on all the FOMC & FED actions against inflation, it is only getting stronger, the market can be considered aggressive, hence, the fundamental backdrop for gold is still negative, as the DXY will continue to rise.

In terms of technical analysis, gold is forming a false breakout of the following liquidity zones: 1928, 1935, 19466 at the moment Powell's speech ends and the market actively sells off the entire rise. On D1 the price again forms a false breakout of trend resistance, preparing the market for further decline. A retest of MA-200 on H1 with a subsequent breakout and decline to 1915 - 1900 may be formed soon

Support levels: 1922, 1915, 1902

Resistance levels: 1928

I expect a possible retest of the nearest resistance areas before a further fall against the negative fundamental background and the current bearish trend

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