Potential Xone for Gold Flight

Trade Idea

Chart Analysis:
In this analysis, we'll explore a potential long trading opportunity on the chart. The key focal point is a crucial zone where the price has established its highest low. Notably, the price is currently situated within an order block, and it's undergoing a pullback and retracement phase following an extended downtrend throughout the week.

Key Level:
The pivot point to watch for this trade stands at 1945, which serves as a critical support/resistance level.

Reasons to Go Long:
Several factors are aligning to support a bullish perspective. First, the dollar index is currently exhibiting indecision, which can potentially work in favor of a long position. Additionally, the backdrop of weakening Chinese economic data could influence the markets and provide an impetus for upward movement.