GOLD → We expect a fall to 1885, from which a rebound may follow

27 Sep 2023

XAUUSD is following a clear script. I recommend studying the latest ideas on XAU to understand the reasons for further decline. At the moment this stage could go to 1885 before a further bounce.

At this point I am only expecting a fall to 1885. This area is clearly of interest to MM and the market, on the background of a strengthening dollar, the price reaching this area will be quite fast. But, further from the mentioned support, with a high probability, a pullback may follow. If the false breakdown will be small, the upward impulse can be formed quite strong. On the background of downtrend and negative fundamental data for XAU, counter-trend correction and momentum may reach 1895 or 1901, but the decline may continue.

Support levels: 1885
Resistance levels: 1895, 1901
I expect the fall to continue to the above level. If the support is retested, a rebound may follow before a further fall.

XAUUSD XAGUSD GC1! DXY BXY

Regards R. Linda!