The price of gold has experienced a significant decline of approximately 30 USD since the previous week's conclusion. This marks the second consecutive week in which gold has seen such a substantial drop.
At present, gold continues to adhere to its downward trend pattern. The establishment of an upward trend will only occur if gold surpasses the aforementioned trend and maintains stability at the 1930 USD level.
When it comes to trading strategies for the beginning of this week, priority will be given to purchasing during retracement waves along the lower edge of the trend. This area is particularly important due to its combination with both a trend and key level on the H4 timeframe.
At present, gold continues to adhere to its downward trend pattern. The establishment of an upward trend will only occur if gold surpasses the aforementioned trend and maintains stability at the 1930 USD level.
When it comes to trading strategies for the beginning of this week, priority will be given to purchasing during retracement waves along the lower edge of the trend. This area is particularly important due to its combination with both a trend and key level on the H4 timeframe.
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