XAUUSD - Support when US housing starts to drop 8% in June

The gold market is at a crucial resistance point of $1,980, while the U.S. housing market is struggling. Housing starts fell by 8% to 1.43 million units, below the expected 1.48 million units. May's data was also revised lower to 1.56 million units from 1.63 million units.

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🐾 BUY XAUUSD zone 1981 - 1978

⚠ Stop Loss : 1973

💲 Take Profit 1: 1990
💲 Take Profit 2: 1995

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In technical terms, gold futures speculators have a short-term technical advantage as prices are in a new uptrend on the daily chart. Their next price target is to close the August futures contract above a strong resistance level at $2,000. On the other hand, bears' short-term price target is to push the futures contract below a solid technical support level at $1,900. The first resistance levels seen overnight were at $1,989 and then $2,000. The first support levels seen on Wednesday were at $1,973 and then Tuesday's low at $1,958.

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🐾 BUY XAUUSD zone 1959 - 1962

⚠ Stop Loss : 1956

💲 Take Profit 1: 1970
💲 Take Profit 2: 1980

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