On Friday we could see Gold testing important resistance at 1918 and selling off from there.
This would have been a bearish sign, but we had a rally in the early London session.
As we are approaching the level of resistance once again, the level is more likely to break.
Therefore we are looking for the upside expansion on the break of 1918 targeting 1925.
If we start breaking below the 1900 level which is the naked POC from Wednesday session, that opens room for the downside to 1875-1880, with the lowest extreme at 1871 that is the key HTF level and 100 Daily MA.
Important zones
Resistance: 1918
Support: 1900, 1880
Macroeconomic releases
OPEC-JMMC Meetings
Fed Chair Powell Speaks
This would have been a bearish sign, but we had a rally in the early London session.
As we are approaching the level of resistance once again, the level is more likely to break.
Therefore we are looking for the upside expansion on the break of 1918 targeting 1925.
If we start breaking below the 1900 level which is the naked POC from Wednesday session, that opens room for the downside to 1875-1880, with the lowest extreme at 1871 that is the key HTF level and 100 Daily MA.
Important zones
Resistance: 1918
Support: 1900, 1880
Macroeconomic releases
OPEC-JMMC Meetings
Fed Chair Powell Speaks