Lingrid | GOLD potential UPSIDE BREAKOUT

Jul 11

The price perfectly fulfilled my last idea. It hit the TP. XAUUSD is currently testing the previous resistant zone. The market has already broken out above the strong support level at 2370, indicating a possible retest of the next resistance. The price action suggests that market is anticipating the upcoming CPI release, which could potentially push the market lower or higher. However, if the news comes out favorably for bulls, I believe the market could break through the previous resistance and psychological level above 2400. Overall I'm looking for the price to test the support level and bounce back, which gives us a buying opportunity. My target is the resistance zone around 2405

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

Jul 11

Trade closed: target reached