GOLD → Trading inside the range. 2340 zone of interest

25 thg 6, 2024

XAUUSD is not preparing to leave the local ascending channel (the nature of the channel is corrective-consolidation), as traders do not seek premature action before the news

The U.S. market is facing another problem: slowing economic growth and rising inflation is leading to recession, no matter how much the authorities deny it. Accordingly, the phase of active currency support may continue and this may have a negative impact on the metal price. Today CB Consumer Confidence - the indicator can give some idea about the mood on the market, but in general traders are waiting for the US GDP, which will be published on Thursday. Neutral data is expected, but there is a high probability that the actual data will be different from the expected...



Resistance levels: 2341, 2354
Support levels: 2326, 2315, 2305

The general mood is neutral, the big players are not in a hurry to act and are consolidating. Technically, gold may strengthen to 2340 (area of interest and liquidity) within the range. The bulls may stop the micro rally and turn the price to the support, if the market maker is not enough, the price may strengthen to 2354 before coming back down

Regards R. Linda!

25 thg 6, 2024

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25 thg 6, 2024

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25 thg 6, 2024

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The price is breaking the ascending support
Price consolidation is forming in the risk zone. Breakout of 2315 may trigger a strong impulse

26 thg 6, 2024

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The price is updating local lows.
Change in the character of the market