Gold Spot / U.S. Dollar forum
Multiple equal highs were formed during consolidation , these acted as liquidity pools, which the market has been targeting.
A recent sharp upward spike suggests liquidity was taken above these equal highs, followed by a pullback, showing inducement , drawing buyers in before a retrace.
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Gold Technical Analysis: Gold prices fell for the first two trading days of this week. Even positive CPI data failed to drive a significant increase in gold prices, clearly indicating that the market is not bullish but rather volatile and weak. The key now is to observe the continuation of this weak fluctuation and a possible shift: Focus on fluctuations in the 3330-3377 range. A break above 3370 could lead to a test of 3389; a break below 3330 support could trigger a further drop to 3300. Gold is primarily range-bound today.