Gold Spot / U.S. DollarUpdated XAUUSD IDEA
XAUUSD is forming a double bottom from which a rally towards strong resistance is forming. CPI showed worse than expected data, surprisingly. Manipulation? Price has not yet moved out of the corrective channel. Ahead of PPI
Resistance levels: 2645, 2651, 2660
Support levels: 2637, 2623, 2600
Technically, XAUUSD is in a correction phase. From the bottom of the channel a strong movement of 2% has been formed and there is not much potential to break through the resistance. The most probable outcome is a decline after a false breakdown or consolidation below 2640. BUT! It is not excluded that a surprise in the news can turn the picture in the opposite direction
Resistance levels: 2645, 2651, 2660
Support levels: 2637, 2623, 2600
Technically, XAUUSD is in a correction phase. From the bottom of the channel a strong movement of 2% has been formed and there is not much potential to break through the resistance. The most probable outcome is a decline after a false breakdown or consolidation below 2640. BUT! It is not excluded that a surprise in the news can turn the picture in the opposite direction
Trade closed: target reached
Successfully reached 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.