GOLD → Controversial fundamental background. What's next?

27 nov

XAUUSD is taking advantage of the dollar weakness and heading towards the zones of interest and liquidity 2665 - 2688. Overall, the fundamental backdrop is not stable, but at the same time weak for gold. PCE, GDP and resistance ahead....



The ceasefire agreement between Lebanon and Israel has entered into force. This has helped to reduce demand for the US dollar, which is generally reflected in the forex market. Gold is feeling support from sustained expectations for the Fed and uncertainty over the outlook for global trade during the Trump presidency, which intends to impose new tariffs on Canada, China and Mexico. Ahead of the upcoming macroeconomic news from the US are PCE and GDP.
Technically, gold is in a sideways range and is looking up towards zones of interest from which a correction could form. But this reaction is partly dependent on the news as well....

Resistance levels: 2660, 2664, 2680
Support levels: 2620, 2605

The focus is on the imbalance zone, 0.7 fibo and 2680 area. Due to the controversial technical and fundamental background, the gold price may close inside a wide channel, which allows us to use its boundaries for trading. We are watching the resistance with a sell target for further downside

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

Regards R. Linda!

27 nov

Operación activa

Activation in the imbalance zone

28 nov

Operación cerrada: objetivo alcanzado