Lingrid | GOLD testing PREVIOUS week HIGH

31 Jul

The price perfectly fulfilled my last idea. It hit the target level. XAUUSD is currently testing the previous week's high (PWH), where we witnessed a sharp move downward previously. Given the high-impact news scheduled for today, there is a possibility that the market may pull back after testing the PWH. I think that the market could retest the psychological level at 2400 before potentially moving higher. The price action created a small box, indicates that the market is anticipating the upcoming news. Therefore it's essential to exercise caution. Overall, I expect a potential pullback followed by a continuation of the current bullish trend, depending on how the market reacts to the news today. My goal is resistance zone at 2443

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻