XAUUSD PLAN WEEK 50 (11/12 - 15/12)

Dec 10, 2023

🪙 Gold Plan. Gold has rebounded from overbought conditions, similar to what happened in late October/early November when prices dropped significantly. New data such as US CPI and the FOMC statement + press conference have the potential to create strong volatility in the dollar market, and gold is not immune to that. In case the price decline is short-term, the nearest resistance level is around 2028-2030. This week, as the trend has shifted towards a bearish direction, it is mainly advisable to Look for Selling opportunities. For safety, traders can Look for Sell opportunities around the 2028-2030 range and Look for Buy opportunities at 1975-1980 with a Take Profit of 10-15 pips. Each trade with a Stop Loss of 5 pips.