Long

XAUUSD Buy opportunity on a 2 week horizon.

Gold (XAUUSD) has been consolidating for the past 2 trading sessions, having held the 1D MA50 (blue trend-line) on Friday as Support. With the 4H STOCH RSI on a similar cross-to-cross sequence as July 05/06, one last pull-back inside the Ichimoku cloud, can be a Higher Low on an emerging Channel Up. If we see that rebound, we will buy and set a quick target just below the 4H MA200 (orange trend-line). If the price manages to close a 4H candle above it, we will buy again and pursue a final target at 1975 (just below the 2.5 Fibonacci extension).

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