The market made over 10% in the last 3 weeks or so. Everybody expects that
XAUUSD
will continue moving higher. It is possible that the price may retest the 2250 level. However, the current situation tells us the gold might pull back. On the daily timeframe, the market reached the massive channel border and made a fake breakout of it. Price action made almost identical moves that we saw in November. Which is a 10–11% rally, then a pullback.
XAUUSD
will continue moving higher. It is possible that the price may retest the 2250 level. However, the current situation tells us the gold might pull back. On the daily timeframe, the market reached the massive channel border and made a fake breakout of it. Price action made almost identical moves that we saw in November. Which is a 10–11% rally, then a pullback.