GOLD (XAUUSD): Market Outlook & Potential Scenarios
A lot of questions about Gold .
To me at the moment the market looks quite indecisive:
the price is approaching a resistance line of a current horizontal trading range.
The future direction of the market will depend on the reaction of the price to that zone.
If you are looking for buying opportunities,
the best confirmation for you will be a daily candle close above the underlined yellow area.
It will trigger a bullish wave.
Goal will be 1857 level.
If you are bearish biased and you are looking for shorting opportunities,
the best strategy for you is to wait for an intraday confirmation to sell from a resistance of the range.
By confirmation I mean a reversal pattern on 4h/1h time frames.
Goal will be 1750.
Let me know in a comment section whether you are bullish or bearish here.