XAUUSD | New perspective | follow-up details

In what appears to be an unprecedented win, gold prices are up 9% since the beginning of the month of March and this happens to be the first time price will test the $2,000 zone this year as the US banking crisis in March was a bullish catalyst for the yellow metal hereby keeping the safe haven in demand. However, the inability of the bulls to break out of the $2,000 mark in the last couple of weeks is a strong signal that the momentum is gradually thinning out which could possibly be a result of inflation showing signs of "cooling" hereby boosting hopes the Federal Reserve would be less aggressive in hiking interest rates. So, will this lead to a "profit-taking" activity this week? In this video, we looked at the potential of both buying and selling opportunities as all eyes remain on the high-impact events coming up this week.

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

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The new month has started on a bearish note as price action breaks down both the support line and the $1,960 level to send a bearish signal. The new setup on the 1H timeframe will be our guide for today... See you at the morning live session.

Good morning

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Update from our live session this morning

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30 minutes outlook reveals an important confluence around $1,965 zone

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Secure buy position now as selling pressure is identified. As discussed during our live session this morning, the potential of bearish momentum is still possible at this juncture.

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Following a strong impulsive move to the upside, a simple set-up is identified on the 30 minutes time frame. We shall expantiate on this during our morning live session today... see you there!

Good morning

Trade closed: target reached:

Approximately 300 pips in profit on two positions scooped as price action hits TP target. Update coming up soon

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Following the test of the $2,025 level for the first time this year, price action is likely going to transition into a consolidation phase before another signal pops up. So, it is important that we remain patient at this juncture for any follow-up trading opportunities.

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Structure is gradually transitioning into a trend continuation pattern

GOod morning

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Secure buy position

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Secure buy position

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Price action takes out the buy position as selling pressure resumes

Comment:

Further dissection of the current market section on the 15-minute timeframe reveals another channel within the $2,028 and $2,020 range. Hence, a new structure for trading opportunities.

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Price action takes out the sell position at break-even as buying pressure resumes.

Comment:

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Secure sell positions

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Tweak to the fall out from our live session this morning

Trade closed: target reached:

131 pips profit in total, waiting for more opportunities. Update coming up soon

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To be on standby

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A descending channel was identified. Detailed explanation ahead of the NFP during our morning live session.

GOood morning