XAUUSD is consolidating after a false breakout of resistance at 3365, awaiting economic data. The metal remains attractive to investors amid the economic crisis.
Gold is supported by the weakening dollar amid increased trade risks. Today, US tariffs on steel and aluminum come into force, and Trump's ultimatum to trading partners expires. Investors are also awaiting news of a possible meeting between Trump and Xi Jinping amid new accusations against China. The focus is on key employment data (ADP) and the ISM services index, which could influence the dollar and expectations for the Fed's actions.
Technically, the market may test the 3323 liquidity zone before continuing its growth.
Resistance levels: 3365, 3391
Support levels: 3345, 3323, 3303
Overall, both the global and local trends are bullish, with the price forming a local correction after a false breakout of resistance. If the bulls hold their ground above 3323-3345 after retesting support, growth may continue in the short to medium term.
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🌹TRADING is a CASINO💔!?
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Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.