GOLD → Hunting for liquidity before continued growth

16. Juni

XAUUSD has been correcting since the start of the session. The fundamental background is complicated due to the escalation of the conflict in the Middle East.

The price of gold briefly retreated from a two-month high above $3,450 amid a recovery in the dollar and investor caution. Escalating tensions between Israel and Iran are dampening risk appetite, while markets await decisions from the Fed and the Bank of Japan. Expectations of a dovish Fed continue to support interest in gold, but fresh impetus is needed for further gains.
Technically, the market is bullish. Gold is forming a correction to the key support and liquidity zone amid an uptrend. The price is within the range, and a retest of 3400 could trigger growth.

Support levels: 3408, 3400
Resistance levels: 3446, 3500

A retest of support and liquidity capture amid the current challenging situation (high interest in the metal) and a bullish trend could support the price, allowing gold to continue its growth.

Best regards, R. Linda!

16. Juni

Trade ist aktiv

Gold continues to fall, breaking through the trading range support. Focus on the mirror support level of 3377 and the liquidity pool below this level. A false breakdown and consolidation of prices above this level could trigger a rebound and growth.