GOLD → The target is liquidity above 2670-2685. What's next?

15 Eki

XAUUSD is consolidating in the local range of 2663 - 2636. There is a strong resistance and liquidity zone ahead. Bears may meet the market quite aggressively in the 2670 - 2685 zone.



The global rally is smoothly transitioning into a sideways fljt 2675 - 2604.

- Markets in China, which strongly supported gold after hints of fiscal stimulus is again facing challenges.
- Interest rates in the US should not be forgotten. The open question is “no interest rate cut” or “0.25% cut”. Will gold be able to stay bullish on the current flat under these circumstances?
- The dollar is rallying after last week's fundamental data and most likely the index's rise is not over... Fed policy makers are starting to change their mindset again and divide into 2 camps - aggressive / restrained.
- BUT! The conflict in the Middle East is cooling down from its limits. Based on the above mentioned, can we assume that the finger is hanging over the button “fix profit”????

Resistance levels: 2663, 2670, 2685
Support levels: 2645, 2636, 2623

Based on the general fundamental background, I do not yet understand the reasons that give such support to gold. There is a strong resistance zone ahead with huge liquidity. The price is in a sideways range and there are no preconditions to exit this channel yet. Most likely, the first retest of the levels (it has been 2 weeks since the last retest) may end in a reversal and correction

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

Regards R. Linda!