Lingrid | GOLD price STUCK in a SIDEWAYS pattern

16 Agu

XAUUSD remains choppy, having formed a doji candle in the last daily session. Given that today is Friday and there are no significant high-impact news events on the horizon, there is a possibility that the market might continue moving sideways. The price is currently hovering around the key level of 2450, building liquidity both above and below this level, and it appears to be forming a triangle pattern, suggesting that the price may be preparing for a breakout. I expect the market to close above the previous week's high and remain above it, potentially signaling a bullish move next weeks, especially since it has returned to the range zone. My target is ressitance zone around 2477


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