Lingrid | GOLD Weekly Market OUTLOOK

2024年12月22日

XAUUSD made a sharp drop mid-week to the support level of 2585 before recovering on Friday. This rebound was largely influenced by Jerome Powell's press conference, which sparked concerns about potential Federal Reserve monetary tightening, while a strengthening DXY further pressured gold prices.

The market appears to be entering a consolidation phase ahead of upcoming holidays, likely maintaining stability as it seeks direction through the New Year. Trading may remain range-bound between 2600-2650.

On the weekly timeframe, the market closed with a bearish candle following a pin bar formation. The daily timeframe shows an emerging triangle pattern with lower highs and higher lows, indicating decreasing volatility. Given these conditions, I expect sideways movement rather than a trending market next week.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

2024年12月23日

交易开始

The gold market is currently pulling back toward the resistance zone. It looks like the price action might create a bearish flag pattern, which could push the market toward the previous support level if it plays out. The price has moved above the previous daily high, where it may face selling pressure. As I've mentioned before, I expect the price to move sideways, especially since there are no high-impact news events and we are in the holiday season. If we see a rejection at the 2640 resistance zone, I anticipate the price could move down toward the round number of 2600 and potentially previous support level. My goal is support zone around 2587