Ideas For XAUUSD / GOLD
XAUUSD → A controversial situation at 1H. Technical pullback
Gold is closing above a strong support level on the 1H timeframe, but at the same time it is sending us a signal for a decline. What to expect in the coming week?
The long shadow of the weekly candlestick might indicate that the technical pullback might continue. The price tested the 1991 Support level on Friday and took a pullback move to 2005.
Strong support: 2000, 1991, 1981
Strong resistance: 2025, 2050 I expect that after the beginning of the week the price can be red and we might see a retest of level
2000 or even
1991 (1981), (till 1981 expected) but since we have an uptrend with the bulls rather confidently defending the support, we can see an increase to
2050 #XAUUSD
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