GOLD → $2500 is the psychological target. What happens next?

Jul 17

XAUUSD is flying upwards after ATH breakout. Powell's comments were positive for the market, which is generally reflected in the dollar and gold. The fundamental and technical background is favorable



Powell's comments about more progressive deflation are favorable for the market, the dollar is falling on this background and there is no end in sight yet. The Feds are considering the situation about prematurely lowering the interest rate without waiting for inflation to fall to 2%. The dollar index is moving into the sell-off phase, which allows gold to update ATH to 2482.
Technically, on H1 resistance is formed at 2482, breakout and consolidation of the price above that level will provoke another rally, within which the price may reach 2500-2525-2550. There is a lot of support, but from above there is emptiness and there are no obstacles. Heated investor interest may lead to a more global ATH.

Resistance levels: 2482, psychological 2500
Support levels: 2463, 2456, 2450

Formation of consolidation before continuation of growth is not excluded. In this case, the price may test the liquidity zone 2463, or imbalance zone located in the area of 2456-2450. But the trigger for the growth continuation will be the break of the indicated resistance.

Rate, share your opinion and questions, let's discuss what's going on with ★ GOLD ;)

Regards R. Linda!

Jul 18

Trade active

Resistance is holding the market back from rising and gold is moving into a correction phase.
The price has reached the zone 2450-2455 indicated by me and is forming growth after liquidity capture).
It was possible to make money on both correction and growth ;)