XAUUSD - Pullback test important combination support

Gold currently tests the confluence support level at $1.960 – the intersection of the Feb 2023 high and the lower bound of the channel. Gold bulls will be eying this crucial level, hoping for a bounce higher and a push towards the $1.985 level. 1985 kept higher prices at bay when gold was trading within a sideways channel between mid-May and mid-June. If prices break and close below $1.960, the nearest level of interest on the downside appears at $1.937.

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🐾 SELL XAUUSD zone 1968 - 1971

⚠ Stop Loss : 1975

💲 Take Profit 1: 1960
💲 Take Profit 2: 1955
💲 Take Profit 2: 1950

Orden cancelada:

Missing 2 pips. I'm a joke :))

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According to the report, central banks' gold purchases slowed down due to weak ETF demand. From April to June, central banks purchased 102.9 tons of gold, a 39% decrease compared to the unprecedented demand reported in Q2 2022.

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🐾 SELL XAUUSD zone 1985 - 1987

⚠️ Stop Loss : 1990

💲 Take Profit 1: 1980
💲 Take Profit 2: 1975
💲 Take Profit 3: 1965

🐾 BUY XAUUSD zone 1941 - 1939

⚠️ Stop Loss : 1934

💲 Take Profit 1: 1945
💲 Take Profit 2: 1950
💲 Take Profit 3: 1960