XAUUSD Gold benefited from the FED standby and we're seeing a potential fakeout above a consolidation range here in green for now as it's acting as a Demand zone. If price action can manage to get above this range we could see a new up leg towards the previous Higher High Pivot at 2009.
In the contrary a dip under that range will trigger a resume of the downward trend toward the 1962 level.
Trade closed: target reached
1958 Short closed
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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.