FX.co ★ king.zelda | XAU/USD, GOLD

Hello colleagues! I suggest analyzing the 1-hour chart of gold (GOLD). Currently, we observe price movement within a descending context. Liquidity was removed near the price level of 3135 before the news. This area coincides with the bearish FVG zone on the 1-hour chart, which has been successfully tested twice. As a result, the price bounced downwards and continued to decline on the news. The target of the current downward price movement for gold is the liquidity level near the price mark of 3054. In the medium-term perspective, the ascending context remains relevant to me. Therefore, I will monitor the reaction upon reaching this level to potentially enter the market with a buy position if there is an opportunity and a suitable pattern.