FX.co ★ Khanbhailog | XAU/USD, GOLD

Good evening. Buyers quickly rebuilt for Gold, not allowing sellers to form a deeper move down. As a result, the price is already approaching the level of 2675.38, and if it is possible to break through it and actively consolidate behind it, then further growth of quotes can be continued to the level of 2703.87. If the weakening of the Dollar is supported by currencies, then in theory, Gold may not go down much anymore, buyers will strive to develop an upward movement towards the historical maximum. If we still consider the option with a price fall, then sellers will need to break through and consolidate behind the level of 2618.67, if they manage to do this, then further fall can be expected to the level of 2580.19. Pair XAUUSD M30: 1 - Yesterday, there was a forecast for an entry point for purchases from the level of 2627.00 for Gold, the price broke through this level and was eventually able to reach the first target at 2637.00, and then the second at 2647.00. 2 - If we talk about the situation by the bands, the price is moving along the upper band, which remains open outward. This leaves the signal for price growth in force, and we just need to watch whether this signal will develop or not. 3 - The AO indicator is actively growing in the positive area, it is not yet clear when the first peak will be formed, and this suggests that the price growth can be expected further. To get a high-quality signal for a drop in quotes, it is worth waiting for an active attenuation towards the zero mark. 4 - The entry point for purchases can be considered from the level of 2677.00, price growth with an active breakout and consolidation can be expected to the marks of 2687.00 and 2697.00. 5 - Sales can be located at the level of 2667.00, the price fall can continue to the marks of 2657.00 and 2647.00.