XAUUSD IDEA
First of all, the favorable fundamental background, price consolidation above MA-50, false breakdown of the ascending trend line support, dollar decline gives traders hope.
Technically, on the bulls closed the trading session very positively. Potentially, we have a range of 2375,2390 - 2431, accordingly, when breaking through 2390 and fixing the price above this area, the bulls can take us to 2431 zone or else it will fall to 2375 zone for gaining liquidity for next move.
From a fundamental point of view, the outlook for gold depends on the upcoming news and the Fed's reaction.
Technically, on the bulls closed the trading session very positively. Potentially, we have a range of 2375,2390 - 2431, accordingly, when breaking through 2390 and fixing the price above this area, the bulls can take us to 2431 zone or else it will fall to 2375 zone for gaining liquidity for next move.
From a fundamental point of view, the outlook for gold depends on the upcoming news and the Fed's reaction.
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