XAUUSD | New perspective | follow-up details

The majority is in a dilemma of whether or not the US central bank is ready to pause on rate hikes. An insight could shape the narrative in the Gold markets, as inflation and recession prospects counteract the demand for the yellow metal. On Friday, we witnessed the mini-crash in prices of gold which was a result of the Federal Reserve Governor Christopher Waller's comment on more monetary tightening despite evidence of a steady drop in inflation figures. Higher interest rates tend to benefit the dollar and weigh on gold. Going in to the new week, is the Gold on track to a new record peak? This video, illustrates a detail technical explanation on what we shall be looking out for in the coming week.

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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.
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Past performance is not necessarily indicative of future results.

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The new week has started on a bullish note as price action breaks out of our key level at the 2 ,000 level hereby respecting the bullish trendline identified in the video. A miss of the breakout will require some patience for either a retest of structure or a trend continuation pattern to join the potential uptrend.

Good morning

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15-minute outlook

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Fall out from our live session

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Secure the sell position

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Another sell position triggered at the breakdown of the 1,996 level, secure all sell positions.

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Price action takes out the sell position and has since found higher lows to reveal a bullish momentum and this could be the beginning of another phase of bullish momentum as the price climbs above the key level at the 2 ,000 level.

Good morning

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Fall out from our live session

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We just witnessed a shake-out, as both the previous buy and sell position was taken out. And with the resumption of buying pressure, we are using the 2 ,000 level to guide trading activities. Buying opportunity is now above the 2,007 level.

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Price action takes out the buy position to trigger a sell at the breakdown of our key level. Secure the sell position as we look forward to another breakdown of structure.

Good morning

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Secure sell position

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buying pressure resumes

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We remain patient as the need to see how price action reacts to the potential sell window around the trendline in other to decide what our next line of action will be. Update coming up soon

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5 minute timeframe outlook of price action within the sell window

Trade closed: stop reached:

The resumption of buying pressure above the 1,992 level and the bearish trendline appear to have negated the bearish expection as price action gradually approaches the key level at the 2,000 level. A breakout/retest of the key level will welcome buying opportunities.

Good morning

Comment:

However, selling opportunities below the 1 ,992 level still remains a possibility

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Just as discussed during our live session; Secure buy position as we look forward to more opportunities as price action continues above the key level at the 2,000 level

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Secure all sell positions as the sell stop order below the 2,000 level was triggered.

Good morning

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Update