The price perfectly fulfilled my last idea. It played out nicely and hit the target.
XAUUSD
is pulling back towards the resistance zone after breaking the strong level at 2300. The market is forming a bearish flag formation, as I mentioned in my weekly forecast. Today we have high-impact news, so I think it might continue moving downward if DXY moves up. If the market rejects the resistance zone at 2300–2310, then we can expect a rebound from it, potentially retesting the support level. My goal is a support level of around 2255.000
XAUUSD
is pulling back towards the resistance zone after breaking the strong level at 2300. The market is forming a bearish flag formation, as I mentioned in my weekly forecast. Today we have high-impact news, so I think it might continue moving downward if DXY moves up. If the market rejects the resistance zone at 2300–2310, then we can expect a rebound from it, potentially retesting the support level. My goal is a support level of around 2255.000