XAUUSD Potential Forecast | 21st March 2023
Fundamental Backdrop
1. Plenty of instability in the market due to the SVB crisis and other banks being heavily affected by it.
2. GOLD, as a safe haven asset, flew to the highs to 2000 and is currently rejecting.
3. This is fuelled by the instability with the USD.
Technical Confluences
1. Price could potentially retrace back to the H4 support level at 1959.24 before heading back up.
2. Price went parabolic to the 2000 regions.
3. Bullish pressure is still intact and will be looking for longs.
Idea
Looking for price to break new highs beyond 2065 and this is just the beginning.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. Plenty of instability in the market due to the SVB crisis and other banks being heavily affected by it.
2. GOLD, as a safe haven asset, flew to the highs to 2000 and is currently rejecting.
3. This is fuelled by the instability with the USD.
Technical Confluences
1. Price could potentially retrace back to the H4 support level at 1959.24 before heading back up.
2. Price went parabolic to the 2000 regions.
3. Bullish pressure is still intact and will be looking for longs.
Idea
Looking for price to break new highs beyond 2065 and this is just the beginning.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
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