XAUUSD is declining and testing local lows. The market has stopped paying attention to the conflict in the red sea,
which is surprising, and focuses its attention on the comments of the Fed representatives,
who are quite a lot of speakers and will speak this week. Lot of news today.
Overall, the regulator is not ready to give up yet and may continue to keep the dollar strong. As for gold, the price is still in a neutral consolidation phase. A breakout of one of the boundaries may determine the outlook and it could be a support breakout. In general, gold is returning to the descending range and testing support levels for the possibility of further decline. Most likely, bears will try to hold their zone, in this case gold may test 2013 within the bearish trend in the nearest future. And in the medium term, target 1994, where there is a huge pool of liquidity.
Resistance levels: 2026, 2030
Support levels: 2017, 2013.97, 2010
As the time horizons are determined both technically and fundamentally, gold may test local lows on the back of a rising dollar.
which is surprising, and focuses its attention on the comments of the Fed representatives,
who are quite a lot of speakers and will speak this week. Lot of news today.
Overall, the regulator is not ready to give up yet and may continue to keep the dollar strong. As for gold, the price is still in a neutral consolidation phase. A breakout of one of the boundaries may determine the outlook and it could be a support breakout. In general, gold is returning to the descending range and testing support levels for the possibility of further decline. Most likely, bears will try to hold their zone, in this case gold may test 2013 within the bearish trend in the nearest future. And in the medium term, target 1994, where there is a huge pool of liquidity.
Resistance levels: 2026, 2030
Support levels: 2017, 2013.97, 2010
As the time horizons are determined both technically and fundamentally, gold may test local lows on the back of a rising dollar.