XAUUSD GOLD TECHNICAL ANALYSIS FOR UPCOMING MARKET EVENTS

XAUUSD Technical Analysis

Strong support: 1939 / 1914.
Strong resistance: 1954 / 1965

Gold is testing sideways range support and several scenarios could develop from here. You have to be prepared for each one.

It is forming a triangle pattern. A decline in the dollar will strengthen our gold.

The moving averages indicate that consolidation is forming. If there is not a strong pullback upwards, in the medium term we should expect a fall in price along the trend

If the dollar goes down and forms a correction, gold will strengthen to 1965 and possibly to 1984, but if the dollar continues to rise after exiting the triangle, gold will start another decline to 1914.
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